Waze is an Israeli crowd sourced traffic app that has the ability to show you the quickest route and redirect Waze users around traffic, essentially outsmarting the traffic jam. The yet to be finalized deal is potentially valued around 1.1 Billion US.
Waze with over 50 million users, uses it’s users’ location data to paint a live map of traffic. The system is especially good at adapting to changing traffic patterns and can suggest alternate routes on the fly. All the mapping systems try to map out traffic but Waze is pretty far ahead of the competition in terms of coming very close to showing you the actual traffic conditions.
Waze’s traffic technologies will be a huge asset to Google Maps’ existing traffic feature and big impactions of future navigation apps. Google has traditionally dissolved Israeli acquired companies, part of this deal seems to be that Waze offices will remain in Israel and continue to develop their system.