Facebook in talks to buy Israel's Waze for up to $1 billion: report

TEL AVIV (Reuters) - Facebook Inc is in advanced talks to acquire Israeli mobile satellite navigation start-up Waze for $800 million to $1 billion, business daily Calcalist reported on Thursday. The deal, which would be Facebook's largest acquisition, would give the social networking company a mapping service and allow it to better compete with Google Inc and Apple Inc. Maps and navigation services have become a key asset for technology companies as consumers increasingly adopt smartphones and other mobile devices. ...

via Tech News Headlines - Yahoo! News http://news.yahoo.com/facebook-talks-buy-israels-waze-1-billion-report-060459649.html