BREAKING NEWS

Facebook in advanced talks to buy Waze

By GLOBES

MAY 9, 2013 12:40

Facebook Inc. (Nasdaq: FB) is in advanced talks to buy Israeli navigation and traffic congestion app company Waze Ltd. for $500 million.

Waze declined to respond to queries by "Globes" on the subject. When asked whether Facebook would close the company, as it has done with its previous acquisitions, Waze replied, "Don’t worry, we'll be all right."

There were reports in January that Waze was in talks with Apple Inc. (Nasdaq: AAPL) at a company value of $400 million, but no deal materialized.

If the deal is realized, this will be Facebook's third acquisition in Israel having bought facial recognition company Face.com in 2012 for $60 million, and mobile app company Snaptu for $70 million in 2011. In both cases, the companies were closed down in Israel with the senior executives going to work for Facebook in California.

Blinken set to visit Israel on Tuesday - report

By JERUSALEM POST STAFF

04/26/2024 10:44 AM

Israeli citizen killed by anti-tank missile in Mount Dov area

By JERUSALEM POST STAFF

04/26/2024 09:26 AM

DeSantis condemns pro-Hamas protests at elite universities

By JERUSALEM POST STAFF

04/26/2024 08:34 AM

Egyptian intelligence chief to head delegation to Israel - report

By JERUSALEM POST STAFF

04/26/2024 08:11 AM