Google Joins FB in Waze-Buyout Buzz
It could start a bidding war with other tech giants
Sources tell Bloomberg that Google (GOOG) is considering a bid for map application creator Waze. A number of other technology companies are said to be contemplating rival bids for Waze.
Rumors circulated earlier this month that social media giant Facebook (FB) is discussion a potential acquisition of Waze with a reported price-tag of up to $1 billion. Those reports have spurred other bidders to make overtures to the company.
At present, Waze hasn’t reached an agreement with any of its possible suitors, and could reject an acquisition in favor of raising new capital, sources told Bloomberg.
Microsoft (MSFT) is said to be one of Waze’s current stakeholders.
Earlier this year, Apple (AAPL) was reported to be in talks with Waze about a possible purchase, though sources say it is not involved in the current discussions.
Shares of Google fell more than 1% in Friday trading.
Article printed from InvestorPlace Media, http://investorplace.com/2013/05/google-joins-fb-in-waze-buyout-buzz/.
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