TEL AVIV (Reuters) – Facebook Inc is in advanced talks to acquire Israeli mobile satellite navigation start-up Waze for $800 million to $1 billion, business daily Calcalist reported on Thursday.
The deal, which would be Facebook’s largest acquisition, would give the social networking company a mapping service and allow it to better compete with Google Inc and Apple Inc.
Maps and navigation services have become a key asset for technology companies as consumers increasingly adopt smartphones and other mobile devices.
Waze uses satellite signals from members’ smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic info.
Read also:
Latest $ 1 Billion Rumor: Facebook Wants Waze (Forbes)
Why Facebook would buy Waze: To fight Google for mobile search (CNET)
Facebook may be driving deal for Waze mobile app (Computerworld)
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