The deal wasn’t announced, evidently because the purchase price was so small that it wasn’t a financially material event for Apple. Writer Seth Weintraub figured it out because he saw that chief executive of Placebase, Jaron Waldman, is now head of the Geo Team at Apple. Placebase had mapping software that was similar to Google Maps.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":132049,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,","session":"A"}']Fortunately for Apple, it didn’t have to pay billions for Placebase, as Nokia did for Navteq. But Apple is smart to believe that mapping technology could be critical for its future as it offers services where location-based information is increasingly relevant. And since Google is the primary backer of the Android operating system, it’s better for Apple not to be dependent on Google Maps.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More