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Quick Take: Google Not Wasted With Waze

Tickers in this article: FB GOOG
NEW YORK (TheStreet) -- TheStreet's Debra Borchardt and Chris Ciaccia discuss Google's recent acquisition of Waze.

Borchardt said that there has been lots of speculation that Google made the roughly $1 billion acquisition in a move for its self-driven car technology.

Ciaccia said Google likely will use Waze for both the social aspect and the traffic integration technology. Although Google Maps does have some traffic technology, Waze should allow Google to perfect the service.

Waze can also pick up the slack where Google+ has not. Google+ hasn't really gained much traction, and Waze's social integration should also help Google on the social front.

The deal will also allow Waze to stay in Israel, a big reason why terms with Facebook did not work out, Ciaccia said.

Ciaccia stressed that Google is an advertising company and anything that can help it gain an edge in knowing where its users are will be a win for them at the end of the day.

He also said that if you're stuck in traffic and Google knows where you are, it will be better equipped with more efficient ads of surrounding restaurants or entertainment to brighten the day.

-- Written by Bret Kenwell in Petoskey, Mich. .