Google has reached an agreement to acquire navigation app maker Waze in a deal believed to be valued upwards of $1 billion, beating out rivals Facebook and Apple, which were also rumored to be mulling a bid for the startup.
Google posted a 31 percent increase in year-over-year revenue for the first quarter of 2013. The search giant reported revenues of $13.97 billion. As revenues grow, CEO Larry Page is focusing on future products and Google's growth potential.
Google will sell its 6.5 percent stake in wireless Internet service provider Clearwire for roughly $47 million (a discounted stock price of $1.60 per share), according to an SEC filing. Google initially invested $500 million in the company in 2008.
Microsoft has filed a formal complaint against Motorola with the European Commission over what it sees as a clear abuse of its industry standard patents, with Google's tacit backing. This follows a similar filing by Apple demanding EC intervention.
In a pair of announcements made just hours apart, the U.S. Department of Justice and the European Commission each announced that the $12.5 billion acquisition had been cleared by their respective anti-trust authorities and could proceed.
Google plans to add filtering mechanisms to Google+, allowing users to receive more relevant social content as the company seeks to challenge rival Facebook. Elsewhere, Eric Schmidt calls U.S. authorities "idiots" and visits new Paris headquarters.
Motorola Mobility stockholders will vote Nov. 17 on the company's acquisition by Google for $12.5 billion. Shareholders who held stock on Oct. 11 get to vote. Since the August offer, the Motorola stock has gone from around $22 a share to $38.
Google has announced a partnership with Intel. The two companies will work together to tune Android’s architecture to the next generation of Intel Atom processors. Initial Atom-powered Android devices will be released in the first half of 2012.
HTC is suing Apple with patents transferred from Google as a defense against Apple's lawsuit. Meanwhile, Acer and Viewsonic have signed patent licensing agreements with Microsoft. And Android Ice Cream Sandwich is due in October or November.