Google To Acquire Waze For $1.3 Billion

Google has reportedly come into agreement with Israeli social GPS startup Waze to acquire it for $1.3 billion. The deal is dependent on a Due Diligence inspection that has only just begun, so it is still subject to change.

This report comes after months of reports suggesting Waze would be acquired by Facebook for $1 billion and by Apple for$750 million. Both alleged talks are said to have fallen through.

Google, which has an office in Israel, has already made two more modest acquisitions in the country. In 2010, Google acquired personalized Website gadget developer Labpixies for $25 million and interactive video-clip developer Quiksee for $10 million.