Google finally discloses Waze acquisition price

Google confirmed in June that it had acquired social navigation company Waze. Initial reports had suggested that Google may have paid up to $1.3 billion for the company, however the actual amount was revealed to be significantly less. The Associated Press reports that Google paid only $966 million for Waze and its team, which it plans to merge with its mapping division. It was also revealed that in the second quarter of 2013, Google acquired seven other smaller companies for a total of $53 million. Google previously said that it plans to integrate Waze’s traffic features and crowd-sourced data into its Google Maps service, while continuing to build and work with community of users that made Waze great.