RISHON LeZION, Israel (TheStreet) -- Google (GOOG) is nearing completion of a $1.3 billion deal to acquire Waze Inc., the Israel-based mobile mapping and navigation company, according to the Globes, an Israeli business publication.
Google declined to comment on the report, the Globes said.
The report Sunday comes after months of speculation that Waze, a startup with nearly 50 million users, would be acquired by either Facebook (FB) or Google. Apple (AAPL) had been reported to be interested in the navigation company, but CEO Tim Cook told AllThingsD in May that Apple had not bid on the company.
Waze describes itself as "the world's fastest-growing community-based traffic and navigation app." Its free mobile app allows users to avoid traffic problems by making use of reports that other users file about road conditions.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV