Google Reportedly Purchasing Israeli Map App Firm for $1.2 Billion

Waze

Crowd-sourced map app maker Waze has apparently accepted a billion-dollar buyout from Google - ending months of speculation about who was going to end up with the Israeli firm.

Apple and Facebook have both been sniffing around Waze, which draws upon the movements of its 50 million users to generate live traffic information and improve its satnav-like directions. Israeli business rag Globes now reports Google has plunked $1.3bn (£837m) on the table along with an agreement to keep development in Israel.