It's official: Google (GOOG -0.7%) is acquiring Waze. No price tag has been given yet. On...

It's official: Google (GOOG -0.7%) is acquiring Waze. No price tag has been given yet. On Google's official blog, Maps/Earth engineering chief Brian McClendon says Waze's R&D team "will remain in Israel and operate separately for now." He adds Google is "excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Google’s search capabilities." (previous)