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UK: OFT okays Google takeover of Israeli mapping app

 |  November 12, 2013

Google is cleared in its acquisition of Israel-based Waze, a mapping application that allows users to track traffic in real-time, according to reports.

The UK’s Office of Fair Trading first announced it would review the nearly $1 billion merger last August to determine whether the deal was considered a relevant merger situation under competition law due, later finding that the merger resulted in Google owning more than 25 percent of the turn-by-turn navigation software market.

The OFT announced, however, that the deal would not harm competition.

Reports say the regulator is not expected to publish its full decision on the deal for another two weeks.

Full Content: Out-Law

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