IM Issue 71 – July/August 2013

Waze Deal Primes Israel’s “Silicon Wadi” for Wave of Investment

Google has acquired the mobile map developer Waze Inc. in one of the most lucrative outcomes for an Israeli technology startup. The purchase is poised to fuel a wave of investment and entrepreneurship in the country. Waze was bought for about $1.1 billion, 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.

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