Waze Deal Primes Israel’s Silicon Wadi for Wave of Investment
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Google Inc.’s acquisition of mobile map developer Waze Inc. marks one of the most lucrative outcomes for an Israeli technology startup, and is poised to fuel a wave of investment and entrepreneurship in the country.
Waze was bought for about $1.1 billion, a person familiar with the transaction said earlier this week, making it one of a handful of companies with roots in Israel to fetch more than $1 billion. The company has offices in Ra’anana, Israel, where it was founded, and Palo Alto, California.