Facebook Inc is in forward-looking
discussions to acquire Israeli mobile satellite navigation start-up Waze for
$800 million - $1 billion, business
daily Calcalist reported on Thursday.
The transaction, which would be
Facebook's major acquisition, would give the social networking company a
mapping service and allow it to better compete with Google Inc and Apple Inc.
Maps and navigation services have become a key asset for technology companies as consumers increasingly adopt smartphones and other mobile devices.
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.
It will be interesting to watch in next few days how and where this deal is going to be finalized and changes take place thereby!
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