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Google Inc Close To Buying Israeli Mapping Start-up Waze-Reuters


Sunday, 9 Jun 2013 09:08pm EDT 

Reuters reported that Google Inc is close to buying Waze for $1.3 billion, an Israeli newspaper reported on June 9, 2013, potentially trumping rival offers for the Israeli mapping start-up. The report on the website of financial newspaper Globes did not cite sources or provide further details. Last month sources told Reuters that Google was in talks to acquire Waze, while a second Israeli newspaper reported Facebook was willing to pay up to $1 billion for the firm. Waze is a crowd-sourced, mobile-oriented navigation device for drivers that relies on information provided by its 47 million members to populate its maps. 

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