Regulators won’t challenge Google’s acquistion of crowd-sourced mapping company Waze.
The Federal Trade Commission (FTC) doesn’t think the buy will hurt competition, according to a report from Bloomberg which cited people familiar with the matter.
Google, which has already begun integrating part of Waze into its mapping products, is said to have paid around $1.1 billion for the company.
Waze’s mobile app for iOS and Android gathers map information from its 50 million users. Those maps are then edited by users who have been promoted to a status that allows them to check and ensure that new routes are accurate. Because of its crowd-sourced model, Waze is able to report traffic conditions, construction zones and other hazards or delays in real time.
Many believed Apple would snatch up Waze but talks between the companies apparently never progressed. TechCrunch reported that Apple, which uses Waze data for its criticized Apple maps products, offered Waze between $500 to $750 million, but that claim was later put to rest by a follow-up report from TechCrunch that stated Apple never made a bid for Waze.