SAN FRANCISCO Facebook is in serious discussions to buy a leading mobile navigation service, Waze, according to two people with knowledge of the situation.
If the sale is concluded, it would give Facebook the ability to better deliver locally tailored ads and content to its 1.1 billion users.
The potential purchase price, which some news reports have said could run as high as $1 billion, would rival what Facebook paid last year to buy Instagram, a fast-growing mobile photo-sharing service.
Waze, which is based in Israel, has been talking to potential suitors for months, and the discussions are fluid. A deal may not be reached or other bidders could emerge.
Read also:
How Facebook Might Buy Your Location for $ 1 Billion (Wired)
Why Facebook would buy Waze: To fight Google … (CNET)
Facebook may buy Israel's Waze for up to $ 1 billion (NBCNews.com (blog))
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