BREAKING NEWS

Report: Facebook talks to buy Waze break down

By GLOBES/NADAV NEUMAN

MAY 30, 2013 14:19

Earlier this month it was widely reported that Facebook was in advanced talks to buy crowdsourcing navigation and traffic report app Waze Ltd. for $1 billion. But now US website AllThingsD reports that sources close to the potential deal say that negotiations have broken down.

The bone of contention is reportedly where the Waze team and operations would be located after any acquisition. Facebook would want the Waze team to be located at their headquarters in Menlo Park, California while Waze wants to continue maintaining most of its operations at its Ra'anana headquarters in Israel.

Waze is also reportedly in acquisition talks with Google. Apple CEO Tim Cook said earlier this week that his company had made no bid for Waze.

AllThingsD said that both Facebook and Waze declined to comment on the report.

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