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Billion Dollar Google Acquisition of Israeli Company Under FTC Scrutiny

The US Federal Trade Commission is investigating the $1.3 billion deal between Google and the Israeli navigation software company Waze, reportedly over anti-trust issues. The deal was not submitted for FTC review because Waze, the Israeli company being acquired, reports revenue less than the threshold $70 million. Experts see the possibility of unwinding the deal because of Google’s overwhelming leadership in the field of mapping and navigation. The deal, which closed on June 11, was hailed in Israel as a great hi-tech moment, and celebrated for the Waze ownership’s insistence that its buyer leave all Israel-based jobs in tact.