Google is close to buying Israeli satellite navigation startup Waze for US$1.3 billion, according to reports, beating off competition from Facebook and Apple.
According to Reuters an Israeli newspaper reported on Sunday Google was set to complete the deal, though the paper cited no sources.
HumanIPO reported last month Google had reportedly joined the bidding for Waze and was willing to pay US$1 billion. Facebook was also looking to acquire the company as it looked to venture further into mobile technology.
Waze uses information crowd-sourced from its 47 million members to populate its mobile-oriented navigation device.
With mapping applications among the most-used on smartphones, Google has been working to improve its Maps services.
HumanIPO reported last week on Google’s update on its API of online maps.
The company announced its plans toimprove its online mapping services prior tostrategy revelations at theI/O conference in May.
