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Google reportedly to acquire Israeli navigation app Waze

waze_1482169fJERUSALEM (JTA) — Google will acquire the Israeli navigation company Waze for $1.3 billion, an Israeli business daily reported.

Neither Waze nor Google has confirmed the report by Globes.

Reports of the deal come less than two weeks after reports that talks between Waze and the social networking site Facebook reportedly broke down over Waze’s insistence that the company’s managers and employees remain in their Israeli headquarters in Raanana rather than relocating to Menlo Park, Calif.

Waze is a free downloadable navigation app with nearly 50 million subscribers.