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UK: Latest Google concessions offered in Waze app case

By  |  September 20, 2013

Google has reportedly submitted concessions to the UK’s Office of Fair Trading over its acquisition of mapping app Waze, an offer that will be considered though remains in limbo as the OFT determines whether it has jurisdiction over the merger.

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    According to reports, Google has offered to operate Waze under the Waze brand name and control the business independent of its own. The offer was published on the OFT website.

    Sources valued the buyout of the Israel-based mapping program at $1.1 billion when it was acquired by the search giant last June. Financial details of the deal were not disclosed by either party, however.

    The concessions offer comes as Google awaits news from the European Union regarding additional concessions, sent for the second time, to the European Commission over its investigation into the company for abuse of dominance allegations.

    Full Content: Bloomberg

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