Home News Business Facebook eyes $1 bn deal to buy Israeli GPS app Waze

Facebook eyes $1 bn deal to buy Israeli GPS app Waze

US: Facebook is in talks on a potential $1 billion deal to buy the Israel-based GPS mobile navigation app Waze, The Wall Street Journal reported. The report citing unnamed sources, said the discussions were “serious” but that no deal had been finalised.

Waze, which claims more than 40 million users, could allow the world”s biggest social network to expand its offerings in areas such as driving directions, or avoiding traffic jams or car accidents.

The Journal said Facebook could use the app to expand its mobile offerings and get a foothold in the field of online maps.

Source: ET