REPORT: Google Beats Out Facebook For Waze In Deal Valued At $1.3B
Reports out of Israel indicate that satellite-navigation startup Waze, which had been in talks with Facebook, will instead be acquired by Google in a transaction valued at about $1.3 billion.
Reports out of Israel indicate that satellite-navigation startup Waze, which had been in talks with Facebook, will instead be acquired by Google in a transaction valued at about $1.3 billion.
Israeli business news site Globes reported on the news, saying that Google’s willingness to allow Waze to retain its operations in Israel was a major factor.
Facebook indicated in talks between the two companies that it wanted to shutter Waze’s development center in Israel and move some of its employees to the social network’s headquarters in Menlo Park, Calif.
Google, meanwhile, made no such demands, according to Globes, which added that Google has already acquired two Israeli-based companies, as well as establishing an office in the country.
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