Sunday, August 14th | 17 Av 5782

Subscribe
June 23, 2013 3:00 pm
0

Report: Google-Waze Deal May Be in Jeopardy

avatar by Zach Pontz

The logo for the Israeli startup Waze. Photo: Waze.

The celebration surrounding the high profile buyout deal between internet giant Google and Israeli social mapping application Waze may be short-lived, The New York Post reported Saturday.

According to the Post, the U.S. Federal Trade Commission has opened an investigation into Google’s $1 billion acquisition of the Israeli navigation service.

Two sources told the Post that despite the fact the deal was finalized earlier this month, Google had erred in believing it did not need to submit the deal for review because Waze’s US revenue is less than $70 million.

Last week, Consumer Watchdog called on antitrust agencies to block Google’s acquisition of Waze, because it will give Google Maps, which already has a huge lead over other competitors, an unfair and possibly insurmountable advantage over competitors.

Related coverage

August 10, 2022 11:33 am

Iran Revolutionary Guard Member Charged With Plot to Murder John Bolton, US Justice Dept Says

The United States charged a member of Iran's elite Revolutionary Guard Corps on Wednesday with plotting to murder John Bolton,...

The Post reports that if the FTC concludes Google must divest itself of Waze, Google most likely would have to take any potential loss in re-selling the company.

Apple, Facebook and Microsoft are all reportedly still interested in the company.

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

Algemeiner.com

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.