Google has spelled out the purchase price for Waze in regulatory documents filed on Thursday, after withholding the price last month when it announced the acquisition of the Israel-based startup. Media outlets previously estimated the purchase price at $1 billion, based on information provided by people familiar with the negotiations who didn't want to be named. Waze provides a mapping app that uses crowdsourcing to attain real-time information on traffic.
It is available for free on Android, iOS, Windows Phone, and Symbian, and is currently in beta for BlackBerry. "To help you outsmart traffic, today we're excited to announce we've closed the acquisition of Waze. This fast-growing community of traffic-obsessed drivers is working together to find the best routes from home to work, every day," Brian McClendon, vice president of Google's Geo products, said in June on the official Google blog. Google also bought seven other smaller companies for a total of $53 million during the three months in June. That calculation is based on information that Google disclosed in Thursday's document as well as a quarterly report filed in April.