REPORT: Fate Of Israel Development Center, Employees Holding Up Facebook-Waze Talks
Facebook’s efforts to acquire satellite navigation startup Waze in a deal potentially valued at as high as $1 billion have hit a major roadblock, as Israeli daily newspaper Calcalist reported that Waze’s co-founders and CEO are balking at the shuttering of the company’s development center in Israel and the relocation of some of its employees to the social network’s headquarters in Menlo Park, Calif.
Facebook’s efforts to acquire satellite navigation startup Waze in a deal potentially valued at as high as $1 billion have hit a major roadblock, as Israeli daily newspaper Calcalist reported that Waze’s co-founders and CEO are balking at the shuttering of the company’s development center in Israel and the relocation of some of its employees to the social network’s headquarters in Menlo Park, Calif.
According to Calcalist, Waze Co-Founders Ehud Shabtai, Uri Levine, and Amir Shinar, as well as CEO Noam Bardin, are sticking to their guns on retaining the development center in Israel and the 100 or so employees based there, while Facebook is making the acquisition contingent on liquidating Waze’s activities in Israel and relocating select employees.
Calcalist
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