We are officially done with Waze acquisition rumors! Google has announced that it has acquired Waze. The deal has been closed and soon we will all be able to benefit from this acquisition.

Google didn’t specify the price it paid for the community-powered navigation service, but rumors indicate it could have been $1.3 billion. This investment will help Google Maps get traffic information from Waze’s 50 million users. Waze will also be enhanced by Google’s search capabilities, so it’s a win-win situation.

It seems the rumors of Waze wanting to stay in Israel were also true. Google mentions the company will continue running from Israel “for now” and both entities will operate separately. We are pretty happy to see Waze joining our beloved Google. This deal will make Google Maps even better than it is.

If you haven’t tried Waze yet, you can give it a go by downloading it from the Google Play Store or Apple App Store.

[Google]