Report: Apple has put in a bid to buy Israeli smartphone app for $500 million.
Has Waze arrived at its destination? According to reports, the Israeli satellite-navigation application is in talks to be acquired by the American technology giant, Apple. The TechCrunch blog was the first to release details about the possible acquisition. According to the technology blog, Waze wants a $750 million price tag while Apple is reportedly willing to pay $400 million plus $100 million in incentives. Industry sources believe Waze is worth at least $1 billion. Technology insiders say there weren’t surprised by the rumors linking Waze and Apple as both companies already share a connection – the community-based traffic and navigation app is a data partner for Apple’s Maps application. Apple and Waze representatives have not made any official statements about the potential deal.