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Google to close $1.3 billion deal with Waze

Published by on Jun 10th, 2013, No Comments

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About one month ago, news surfaced that Facebook was in negotiations to acquire crowdsourced mapping and navigation app Waze for $1 billion. Shortly afterwards new reports claimed Google was also interested and had attached a $1.3 billion price tag to the deal.

However, last month both companies reportedly called off the negotiations after failing to reach an agreement.

Rumours of the acquisition go as far back as 2012, during which time Apple was also reportedly interested in the startup.

Now, Isreali business newspaper Globes has reported that Google is closing in on the deal after months of speculation and will acquire the company for an agreed $1.3 billion.

According to the report one of the reasons for Waze going with Google, aside from the higher offer, is because employees will be remaining in their home country rather than making a move to the U.S.

According to CNET, Waze CEO Noam Bardin has said that Waze is Google’s only real competition on mobile.

Waze for iOS and Android, with a user base of about 50 million, is the Global Mobile Awards winner for best overall map app in 2013 and according to waze.com is the world’s fastest growing community-based traffic and navigation app.

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