Google is close to a purchase of Israeli technology firm Waze for $ 1.3 billion, equivalent to around 8.5 billion, writes TT, citing the Israeli financial newspaper Globes.
Waze has developed a popular app as described as a social mapping and navigation services, and over time has been about 50 million users. In addition to maps and directions, it provides information including traffic jams, accidents and speed cameras as it collects from its social network, according to Globes.
Facebook and Apple is also said to have been interested in acquiring Waze, writes TT but, according to Globes, they have considered the price tag too high, and Facebook will also have liked to take the company from Israel, which the sellers did not want.Waze would be Google’s third purchase in Israel and the internet giant already has an office in the country .
Neither Google nor Waze has declined to comment on a possible deal is in the pipeline, writes Globes.
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