Apple ready to pay USD 500 million for Waze - report

News Wireless Global 3 JAN 2013
Apple ready to pay USD 500 million for Waze - report
Apple is in talks to buy Israeli start-up Waze Mobile's navigation app for USD 400 million plus USD 100 million in incentives, according to Israeli website NewsGeek, but Waze wants USD 750 million. Waze is a crowdsourced GPS navigation app for phones, tablets and in-vehicle systems used in Israel and over 40 other countries. Waze has more than 20 million social network users who can provide information on traffic, police, accident and speed camera information. Like TomTom, it already supplies traffic updates and maps to Apple's navigation software programme. Despite the price Apple is reportedly ready to spend, Waze only had USD 1 million in revenue last year, mainly from advertising. Globes writes that Facebook was reportedly in talks to buy Waze last August.

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Mobile,  Satellite

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GPS - Glonass - Beidou - Galileo, Wireless, Consumer, Location Based Services, M&A buyouts & divestments

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