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This is an archive article published on May 25, 2013

Google too in fray to buy Waze for $1 bn

Google Inc is considering buying Israeli mobile satellite navigation start-up Waze Inc,which may lead to a bidding war with Facebook Inc,Bloomberg news reported,citing people familiar with the matter.

Google Inc is considering buying Israeli mobile satellite navigation start-up Waze Inc,which may lead to a bidding war with Facebook Inc,Bloomberg news reported,citing people familiar with the matter.

Waze is seeking more than $1 billion and is fielding expressions of interest from multiple parties,Bloomberg cited a source as saying.

Maps and navigation services have become a key asset for technology companies as consumers increasingly adopt smartphones and other mobile devices.

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Other media have reported that Facebook Inc has held talks to buy Waze for as much as $1 billion.

Google and other parties approached Waze after the Facebook talks became public but none of the bidders are close to clinching a deal,Bloomberg said,adding that the start-up might decide to remain independent.

Waze could not immediately be reached for comment. Google did not immediately respond to requests for comment.

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