Google, like Facebook, in talks to buy Waze for US$1b: report

Google is considering buying Israeli mobile satellite navigation start-up Waze, which may lead to a bidding war with Facebook, Bloomberg news reported, citing people familiar with the matter.

Waze is seeking more than US$1 billion and is fielding expressions of interest from multiple parties, Bloomberg cited a source as saying.

Maps and navigation services have become a key asset for technology companies as consumers increasingly adopt smartphones and other mobile devices.

via Business feed http://www.scmp.com/business/companies/article/1244969/google-facebook-talks-buy-waze-us1b-report