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Google in $1bn talks to buy Waze

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Google is reportedly mulling a counter-bid for the Israeli mapping company, Waze in a move that could see it in a price fight with Facebook.

Waze, a crowd-sourced mapping service has been previously reported to be seeking offers of around the $1bn mark, and is in talks with Facebook.

Apple was a previous negotiator, but reputedly walked away when the price went too high.

None of the bidders is close to clinching a deal and the talks may fall apart, sources told Bloomberg News.

Google, and other large tech companies have approached Waze about a possible deal since the Facebook talks became public, the sources added.

Waze Mobile has developed a navigation aid that crowd-sources its mapping data by collecting GPS location data as the mobile app is used, and also by encouraging users to update local traffic problems on the app itself.

As a result it has built up a sizable mapping database of its own without having to license any third party platforms.


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