Google disclosed Thursday how much it paid for the Israel-based company behind the mapping app Waze: a whopping sum of $966 million.
This price is in a financial quarterly report that Google filed with the Securities and Exchange Commission Thursday. Apparently, the Web giant spent $847 million in goodwill, $188 million in intangible assets, and then minus $69 million in net liabilities. It was previously speculated that Google paid a little more than $1 billion for Waze.
"In June 2013, we completed our acquisition of Waze Limited (Waze), a provider of a mobile map application which provides turn-by-turn navigation and real-time traffic updates powered by incidents and route information submitted by a community of users, for a total cash consideration of $966 million," Google wrote in the filing. "The acquisition is expected to enhance our customer's user experience by offering real time traffic information to users' daily navigation needs."
source [[ cnet ]]
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