Report: Google to Drop $1.3B for Waze Navigation Software
June 10, 2013 7:43 AM
comment(s) - last by
No official confirmation has been offered at this time
After months of rumors circulating that Google, Facebook, and Apple were all jockeying to purchase an Israeli mapping/navigation company called Waze, sources claim that a deal has finally been struck.
According to sources, the price tag for Waze is $1.3 billion.
Reports also indicate that Facebook executives had flown to Israel to meet with Waze executives, but no deal could be reached. The sticking point in Facebook negotiations was reportedly the fact that Waze wanted its employees to continue working in Israel and Facebook wanted them to relocate.
The Wall Street Journal
indicates that Google's Waze purchase is its fourth-largest by dollar value and could be announced as soon as this week. Google will no doubt use Waze to bolster its mapping/navigation efforts around the globe.
Waze currently has nearly 50 million users, and is a free application that is available on Apple and Android devices. The application operates in roughly 190 countries and draws GPS information from the device to learn about traffic flow on the road and provide drivers with better routes. Waze also has a community of 70,000 members that helps edit maps, provide fuel prices, and point out locations of accidents.
Interestingly, Microsoft is also an investor in Waze – neither Google nor Microsoft have offered an official statement on the purchase at this time.
Wall Street Journal
This article is over a month old, voting and posting comments is disabled
The sticking point....
6/10/2013 1:07:37 PM
...for Facebook was they wanted the employees to relocate to the US but Waze didn't want that????
No problem....."Yeah sure we will keep the main unit here." Six month after the purchase you shut it down and move it to the US....what the hell!
Unless the purchase needed approval by the Israeli government and mandated the firm stay in Israel to keep their people employed. (hmmmm....a novel concept. instead of moving the business overseas you keep it in the home country to keep people employed)
"If you can find a PS3 anywhere in North America that's been on shelves for more than five minutes, I'll give you 1,200 bucks for it." -- SCEA President Jack Tretton
eBay to Spin Off PayPal Business Next Year
September 30, 2014, 7:28 AM
Facebook to Use Your Browsing Data to Sell Offsite Display Ads
September 29, 2014, 3:52 PM
After Microsoft Complains, EU Rejects Google's Search Settlement for Second Time
September 23, 2014, 4:58 PM
Microsoft Expands Free Office 365 to All College Students
September 22, 2014, 3:21 PM
Apple Adds New Password Protection for Third Party iCloud Apps
September 17, 2014, 8:50 PM
Facebook Tests Moments App, Aims to Keep Your Private Memories Private
September 17, 2014, 5:46 PM
Most Popular Articles
Appalling Negligence: Decade-Old Windows XPe Holes Led to Home Depot Hack
September 8, 2014, 8:58 PM
iBend: Reports Grow of Razor-Thin iPhone 6+ Folding Like Origami in Your Pocket
September 23, 2014, 6:08 PM
New AT&T Mobile Share Value "Double Data" Promotion Lasts Through October
September 28, 2014, 8:32 AM
Update: Apple Releases iOS 8.0.2 Update to Make Up for Botched 8.0.1 Release
September 25, 2014, 8:19 PM
FBI Outraged That Apple, Google are Adopting Digital "Locks" to Protect Users
September 26, 2014, 1:00 PM
Latest Blog Posts
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information