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Facebook Inc In Talks To Buy Waze For Up To $1 Billion-Reuters


Thursday, 9 May 2013 02:00am EDT 

Reuters reported that Facebook Inc is in advanced talks to acquire Israeli mobile satellite navigation start-up Waze for $800 million to $1 billion, business daily Calcalist reported on May 9, 2013. Due diligence is underway after a term sheet was signed, Calcalist said, adding that talks began six months ago. Waze uses satellite signals from members' smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic info. Officials at Waze declined to comment on the report. 

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