Google ponied up nearly $1 billion to acquire crowd-sourced traffic app developer Waze in June, according to details spotted in an SEC filing this week.
The form 10-Q filed with the US Securities and Exchange Commission on Thursday reveals that Google spent $966 million (£627.8 million) to acquire Waze, with $847 million (£550.5 million) of the total purchase price attributed to goodwill and $188 million (£122.2 million) attributed to intangible assets. Google assumed $69 million (£44.8 million) of Waze liabilities to arrive at the final cash consideration.
Google's quarterly financial filing also revealed that the search giant completed 15 more acquisitions in the first half of 2013, including deals for Makani Power and Wavii, spending about $344 million (£223.6 million) and bringing its total M&A spending for the first half to more than $1.3 billion (£844.8 million).
Interestingly, $1.3 billion is the amount the rumour mill had Google spending on Waze prior to the financial terms of the deal being revealed this week.
Meanwhile, the Waze acquisition is currently being probed by the Federal Trade Commission for an official antitrust review, Google confirmed last month. It's not clear when that investigation will wrap up.
Reports about Google buying Waze emerged in May, with speculation that the tech giant was gunning for a deal to "prevent [Waze] from falling into the hands" of rival Facebook, Reuters said at the time. Facebook had also reportedly been willing to strike a deal in the range of $1 billion (£649.9 million) for the Israeli company.
Waze generates real-time traffic information through location-monitoring tools that tap into the mobile devices used by its 47 million members. The focus on mobile, combined with the real-time data generation and social components of Waze's business, appears to fit in well with Google's recent efforts to make its Google Maps services more personally attuned to individual users' needs.
At its annual Google I/O developer conference earlier this year, the search giant unveiled an overhauled Maps platform with more personalised features and later lifted the hood on its new engine for creating localised area maps, which approximate what a local resident might sketch out quickly for a tourist.
In the wake of the acquisition, the Waze product development team will maintain some degree of autonomy from Google, according to Waze CEO Noam Bardin.
"Nothing practical will change here at Waze. We will maintain our community, brand, service and organization," Bardin wrote in a blog post following the announcement of the deal in June, adding that Waze would maintain its headquarters in Israel for the time being.