Report: Google will buy Waze mapping and navigation service for $1.3 billion
Skift Take
If accurate, it's good news for Waze. Especially since the app's appetite for data and battery power has become a turn off for many of the early adopters.
Sources inform "Globes" that Google Inc. (Nasdaq: GOOG) will acquire Waze Ltd. for $1.3 billion. The acquisition of the Israeli navigation app and traffic report start-up will be completed after months of reports that Waze would be sold to either Google or Facebook Inc. (Nasdaq: FB).
Ra'anana-based Waze has almost 50 million users. This is a big number for an Israeli company, which probably helped it achieve the hoped-for exit.
Reports about a possible sale of Waze are not new. Last year there were reports Apple wanted to buy Waze and in late August 2012, it was reported that F
