Google interested in acquiring Waze, could launch bidding war with Facebook
With word surfacing that Facebook is in talks to acquire Waze, the social map and navigation outfit, for around $1 billion, sources now say Google has tossed their hat in the ring. No stranger to acquiring startups, the move is not surprising. The addition of Waze to Google’s portfolio would also keep the company out of the hands of competitors.
There is no guarantee that any company will walk away with Waze under their wing, however. While the most serious talks have taken place with Facebook, Google and other parties have expressed interest. Waze, however, is asking for over $1 billion and could choose to remain independent and seek further venture funding to improve its mapping service. As of now, those close to the matter say that a deal with any particular company is not close.
As for others besides Google and Facebook that could be interested? Apple is said to not be in the mix, nor is Microsoft — though the maker of Windows has funded the project in the past.
[via Bloomberg]