Is Waze Going To Google For $1.3B? [Report]


google buys waze

Social map service Waze has been a hot property in the social navigation space for some time, with reports of Facebook and Google sparring over the service in a bidding war having been bandied about for a while.

The fate of Waze and its eventual price tag has been a matter of speculation for some time, and its long been thought one of the two giants would be imminently acquiring it.

A report today in Israeli media suggests that Waze is not set to be purchased by one of the two, indicating that their sources say Waze will be bought by Google — for $1.3 billion.

Little detail was presented in the Israeli report, but the site says that Waze’s acquisition is a done deal:

Sources inform Globes that Google Inc. (Nasdaq: GOOG) will acquire Waze Ltd. for $1.3 billion. The acquisition of the Israeli navigation app and traffic report start-up will be completed after months of reports that Waze would be sold to either Google or Facebook Inc. (Nasdaq: FB).

Globes contacted both Google and Waze for confirmation on the Waze sale report.

Waze told the site “no comment,” and Google reportedly said that the search engine giant doesn’t “[acknowledge] rumors and speculation.”

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Kim LaCapria

Kim LaCapria is a social media enthusiast, long-time Inquisitr.com writer and beauty and lifestyle industry expert. She covers a wide range of social media topics, with a particular interest in style-related apps and services. When not working, Kim can be found on Facebook and Pinterest, skating, and sneaking off to Spa Castle.

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