Friday, May 29, 2015Friday, May 29, 2015

Google close to buying Israeli mapping start-up Waze: Report

Published on Jun 10, 2013 12:58 AM

JERUSALEM (REUTERS) - Google is close to buying Waze for US$1.3 billion (S$1.6 billion), an Israeli newspaper reported on Sunday, potentially trumping rival offers for the Israeli mapping start-up.

The report on the website of financial newspaper Globes did not cite sources or provide further details.

Last month sources told Reuters the Internet search giant was in talks to acquire Waze, while a second Israeli newspaper reported Facebook was willing to pay up to US$1 billion for the firm.

Facebook is delving deeper into mobile technology as it tries to expand its user base.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!