‘Google snatches up Waze from under Facebook’s nose for $1.3 billion’

waze_map_editA new month with new rumors has arrived. The buzz surrounding the popular navigation service Waze continues. After Apple and Facebook it is now the turn of Google to be touted as the company that is buying the Israeli service for $1.3 billion in cash.

With that kind of money being bandied about, the company’s value is increasing by the day, or at least in the whisper-stream. Where Apple was rumored to have offered ‘just’ $500 million for Waze towards the end of 2012, Facebook reportedly offered double the amount: $1 billion.

Last month, however, as we were writing about the undesirable consequences for Google in case of an acquisition by Facebook, it turned out the folks at Big G were already busily making calculations. According to Israeli publications, Google even promised to buy Waze exclusively in cash, allowing it to keep its current CEO and offices in Israel for at least another 3 years.

This rumor is not entirely out of the blue. Towards the end of May, Bloomberg already reported that Google and Waze were at advanced stages of negotiation on the latter’s acquisition for an amount of “approximately $1 billion”. Nevertheless, things remained quiet for a while — until yesterday evening.

Google and Waze have not commented materially on the rumors yet. Both parties are expected to issue a statement later today.