Friday, May 24, 2013

Google Considers Waze Acquisition

Bloomberg reports that Google is considering making an acquisition offer for mapping company Waze. Numerous reports over the past few weeks have claimed that Facebook is also eyeing an acquisition of the maps firm.
Google Inc. (GOOG), maker of the Android operating system, is considering buying map-software provider Waze Inc., setting up a possible bidding war with Facebook Inc., people familiar with the matter said. Waze is fielding expressions of interest from multiple parties and is seeking more than $1 billion, said one of the people, who asked not to be identified because the talks are private. The Palo Alto, California-based startup might also remain independent, instead seeking to raise a round of venture capital financing, the people said.
Waze’s price-tag is current said to be around $1 billion.

Google’s potential bid would likely create a bidding war with the Menlo Park-based social network. Bloomberg reiterates that Apple is not in discussions with Waze. Rumors from earlier this year claimed that Apple was eyeing an acquisition, but many of those claims were immediately debunked. 
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