Facebook in talks to buy Israel's Waze for up to $1 billion: Report - IBNLive - IBNLive

Sponsored link: Donate now. Save tax Tel Aviv: 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. Due diligence is underway after a term sheet was signed, Calcalist said, adding that talks began six months ago. 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. Waze and Facebook partnered in October 2012 when Waze released its updated version that allows users to share their drive with their Facebook friends. Officials at Waze declined to comment on the report. Waze and Facebook partnered in October 2012 when Waze released its updated version that allows users to share their drive with their Facebook friends. This would be Facebook's third acquisition in Israel. It bought Snaptu in 2011 for $70 million and Face.com in 2012 for $60 million. In the last year, Waze tripled its user base to 45 million and in March alone, 1.5 million users downloaded the free mobile navigation app, Calcalist said. (For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest) #facebook #waze #mobile satellite navigation #acquisitions Railways bribery case: CBI to probe Mamata's tenure Pawan Bansal skips Cabinet meet at PM's residence 1984 anti-Sikh riots: 3 convicts get life term WB chit fund scam: Sudipta Sen, 2 aides sent to 9-day police custody via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGsHiNoN8r4h2ddDhvK5xaxQsHftQ&url=http://ibnlive.in.com/news/facebook-in-talks-to-buy-israels-waze-for-up-to-1-billion-report/390632-11.html

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