News Column

Google to Buy Navigation App Waze for $1.3 Billion

June 10, 2013
Waze logo

Google was in advanced negotiations with an Israeli company to buy a navigation app in an estimated 1.3-billion-dollar deal, Israel's Channel 2 reported Sunday.

The company has developed a navigation app, called Waze, that allows users to share information on traffic jams, accidents and the presence of police cars and speed checks.

Apple and Facebook were reported to earlier have made offers to the Israeli start-up.

Neither Google nor the Israeli company would confirm or comment on the deal.

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH. Distributed by MCT Information Services

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