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FTC won't interfere with Google's $1 billon purchase of Waze

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Google purchased Waze, one of the more popular mobile mapping and navigation apps around, back in June — and the FTC quickly indicated that it would review the purchase for potential antitrust violations. However, it's now looking like the purchase should go through as planned without any challenges. Bloomberg News is reporting that the FTC won't move to block the sale and has no concerns that Google's purchase of Waze would hurt the competition, according to unnamed sources. If the deal goes through as expected, it should prove to be a nice boon for Google's already-dominant mapping services — rolling Waze's crowd-sourced traffic and travel data to its own service could certainly help the company extend its strong position in the market. While some believe the purchase was a defensive move, either way it's clear Google saw significant value in the company — while the final purchase price hasn't yet been confirmed, it's believed to be north of $1 billion.