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There are several players in the tech world playing hard ball, some of these companies have been in the business for a long time, while others have gained popularity over the night. The world of Internet is evolving constantly and all these players or as they are called tech giants are trying to get ahead in the race.
In the official blog post on June 11, Google confirmed that it bought Waze - an Israeli mapping and navigation startup for $1.03 billion. For those of you who are not aware, Waze is a community-driven application that learns from user's driving times to provide routing and real-time traffic updates. Additionally, people using the app can report accidents, traffic jams, speed traps, police and can update roads, landmarks, house numbers and so on.
The acquisition should give Google some serious advantage in mapping services over the competitors.
Acquisitions can prove to be game changers - there are always those smaller companies and startups that introduce something new and innovative to become the next big thing.
Relatively, tech giants are on a constant look out to acquire these companies or products and are ready to pay huge sums of money to do so. Lets have a look at some priciest acquisitions in the world of Internet in the past few years.
Microsoft acquired Skype, VoIP service back in 2011 for $8.5 billion. Now thats a lot of money! The platform had close to 600 million users before it was bought by the makers of Windows.
Intel acquired McAfee the computer security software company for a whopping $7.68 Billion. McAfee for long has been a trusted name in Internet security.
Adobe acquired Macromedia, an American graphics and web development software company in 2005 for $3.4 Billion, which is by no means a small amount. Macromedia is known to have produced products such as Flash and Dreamweaver.
Google acquired YouTube, video streaming site for $1.6 Billion in 2006. Well, youtube needs no introductions, it is one of the biggest things to ever hit the internet.
eBay - the online customer to customer market place acquired PayPal for $1.5 Billion in 2002. PayPal is still one of the biggest global e-commerce business, which allows payments and money transfers to be made through the Internet.
Yahoo acquired Tumbler microblogging and social networking website, this year for approximately $1.1 billion. This happens to fall under the reign of Yahoo CEO, Marisa Mayer, who has been determined to change the fortunes of the company.
Facebook acquired Instagram, an online photo-sharing and social networking service for $715.3 Million in 2012. Instagram is massively popular service, it allows users to take pictures, apply digital filters to them, and share them on a variety of social networking services.