Google said to avoid US antitrust challenge over Waze deal
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WASHINGTON — Google, owner of the world's largest search engine, won't be challenged by U.S. antitrust regulators over its purchase of mapping application Waze, people familiar with the matter said.
The Federal Trade Commission hasn't raised concerns that the transaction might hurt competition, said the people, who asked not to be named because they weren't authorized to speak publicly about the matter. Google said June 21 that it had been contacted by the agency about the transaction.
Google, based in Mountain View, Calif., said June 11 it was buying Waze in a deal giving it new tools to help users navigate traffic with smartphones. The Waze deal was valued at about $1.1 billion, a person familiar with the matter said then.
Leslie Miller, a spokeswoman for Mountain View, Calif.-based Google, declined to comment.
Google offered under a standstill agreement to keep the Waze business, brand and sales separate from its own business during any possible U.K. antitrust review of the deal, according to a statement dated Sept. 17 published on the website of the London-based Office of Fair Trading.
With assistance from Brian Womack in Palo Alto, Calif.