Google to Buy Waze for $1.3B: Sources

Google is expected to nab social-navigation app Waze for $1.3-billion, sources have revealed.

Sources told Globes, an Israeli business publication, that Google will “soon” close the deal with the firm.

It is thought Google is interested in Waze for two reasons: to continue to improve Google Maps as well as to keep Facebook from snapping up the Israeli firm.

Sources told Bloomberg last month Google and several other large technology firms had contacted Waze to discuss acquisition after it became public knowledge that Facebook was courting the Israeli company. The talks between Facebook and Waze stalled at the end of last month because the two firms didn’t see eye-to-eye on various issues, the main one being location.

According to the All Things D report, Facebook wanted Waze to make the move to the U.S. and work from the social network’s Menlo Park, Calif., headquarters, but Waze wants to remain in Israel.

It was rumored that Apple and Waze were in negotiations in January with the iPhone maker willing to pay up to half a billion dollars. Sources at the time said Apple had offered $400 million in cash and $100 million in incentives, based on performance. Waze, at the time, reportedly wanted at least $750 million which, perhaps, is why nothing came of the deal then.

Waze, the world’s fastest-growing community-based traffic and navigation app, has more than 30 million users who share current traffic information wherever they are driving.

“Imagine 30 million drivers out on the roads, working together toward a common goal: to outsmart traffic and get everyone the best route to work and back, every day,” the website reads. “Get alerted before you approach police, accidents, road hazards or traffic jams, all shared by other drivers in real time. It’s like a personal heads-up from a few million of your friends on the road.”

An “active community” of Waze map editors are continuously improving and updating the app to reflect changes in a bid to improve users’ driving experience.

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Google to Buy Waze for $1.3B: Sources

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