Google to buy Israeli GPS app Waze for $1 bln

Share via AddThis
Posted June 10, 2013
Google is in talks on a deal worth at least $1 billion to buy the Israel-based GPS mobile navigation app Waze, Israeli media reported on Sunday.

Google is in talks on a deal worth at least $1 billion to buy the Israel-based GPS mobile navigation app Waze, Israeli media reported on Sunday.

Google is in talks on a deal worth at least $1 billion to buy the Israel-based GPS mobile navigation app Waze, Israeli media reported on Sunday.

Haaretz newspaper said on its website that the two companies had agreed terms and were about to sign for a price “exceeding $1 billion”.

Business daily Globes said the purchase price was $1.3 billion. Neither report identified its sources.

“We don’t comment on rumour and speculation,” a Google spokesman told AFP about the Israeli media reports.

There have been previous reports that first Apple and then Facebook wanted to acquire the Israeli start-up.

Globes said that those deals fell through partly because Waze insisted that its local staff be kept on.

It said that Google, which has bought two Israeli firms in the past, has a local office.

Haaretz said the agreement called for the US Internet search engine giant to pay the full amount in cash.

“In addition, Waze’s research and development centre will remain in Israel for at least three years, as will the company’s CEO, Noam Bardin. Waze will retain its independent identity both as a company and as a brand,” it quoted “sources” as saying.

Read more at: Phys.org



54,867 science & technology articles

Categories

Our Articles (see all)

General News

Follow us

Facebook   Twitter   Pinterest   StumbleUpon   Plurk
Google+   Tumblr   Delicious   RSS   Newsletter via Email

Featured Video (see all)


New tool for virtual and augmented reality uses ‘deep learning’
Future systems that allow people to interact with virtual environments will require computers to interpret the human hand’s…

Featured Image (see all)


World’s Largest Robotic Field Scanner Now in Place
The world’s largest robotic field scanner has been inaugurated at the University of Arizona’s Maricopa Agricultural Center, or…