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Google reportedly mulling $1.3 billion Waze acquisition

Several companies have been rumoured to purchase social mapping company Waze in the past, but all of those deals have supposedly fallen through. The latest technology company with its eye on Waze is Google, with Israeli publication Globes saying that the search giant is set to snap up Waze for $1.3 billion (around £853 million).

Why would Waze go with Google rather than Facebook? Keeping the company in Israel would be a big part of it. Facebook reportedly wanted to move operations across to the United States, a move that may have ultimately bungled the deal. It’s interesting to see that the acquisition price has risen since that Facebook rumour, though. The social networking company was reportedly set to spend between $800 million and $1 billion originally (around £525 million to £656 million).

Apple was the first company to approach Waze about a potential acquisition earlier this year, although the mapping company ultimately declined. Cupertino’s price tag wasn’t so high either, with reports saying that the company was offering $500 million (around £328 million). Despite the fact that Apple uses data from Waze for the iOS Maps app, it seems that the Israeli company wasn’t interested in being bought out.

Globes reached out to both Waze and Google after hearing from its source, but both companies declined to comment on the report.

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