Rumor suggests Facebook is looking to buy Waze for $1B

Waze updates Android app

Several Israeli websites are reporting that Facebook is close to acquiring social navigation company Waze. Talks have been ongoing for several months, but Facebook is allegedly “in advanced due diligence” in its efforts to acquire the mobile company.

A report in the Calcalist claims Facebook is offering between $800 million and $1 billion for Waze. The world’s largest social network is looking to expand its mobile efforts and sees Waze as an attractive acquisition. Waze is based in Israel, and it is not known if a deal will move them out of the country and into the US.

[Via TechCrunch, Calcalist, Ynet and The Marker]

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