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Google to buy Israeli GPS app Waze for $1.25 billion: Reports

Published on Jun 10, 2013 6:24 AM
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Waze, an Israeli mobile satellite navigation application, is seen on a smartphone in this photo illustration taken in Tel Aviv May 9, 2013. Google is in talks on a deal worth at least US$1 billion (S$1.25 billion) to buy the Israel-based GPS mobile navigation app Waze, Israeli media reported on Sunday. -- FILE PHOTO: REUTERS

JERUSALEM (AFP) - Google is in talks on a deal worth at least US$1 billion (S$1.25 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 US$1 billion".

Business daily Globes said the purchase price was US$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.

 
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