Internet search giant Google Inc. didn’t have to look hard for a firm to handle its proposed acquisition of Israeli map software provider Waze. While terms of the deal, which Google announced Tuesday, were not disclosed, various news reports put the purchase price at roughly $1.1 billion.
Cleary Gottlieb Steen & Hamilton, which has handled several major M&A deals for Google over the past few years, is taking the lead advising the Mountain View-based company on its bid to buy Waze, a social mapping service founded in 2008 that is based in Palo Alto and Ra’anana, Israel, and taps into real-time data provided by users to help drivers avoid traffic tie-ups.
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