Following months of speculation, Google (NASDAQ:GOOGL) has officially acquired crowd-sourced traffic data specialist Waze, it announced today. The search giant will integrate Waze into Google Maps in an effort to bolster its traffic information in order to help users plan their routes more effectively.

The Israeli-based start-up will remain in Israel for now and continue to operate independently, but the two companies will enhance each other's services. Waze's community of users has quickly grown to 40 million, and it recently announced expansion into Latin America.

No price was disclosed, but prior media reports suggest that Google might be paying up to $1.3 billion.


Fool contributor Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool recommends Google. The Motley Fool owns shares of Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.