Google eyes map-software maker Waze
Tech giant's bid may start takeover battle with Facebook for Waze, which seeks US$1 billion
Google, maker of the Android operating system, is considering buying map-software provider Waze, setting up a possible bidding war with Facebook, people familiar with the matter said.
Waze was fielding expressions of interest from multiple parties and was seeking more than US$1 billion, said one of the people, who asked not to be identified because the talks are private.
The start-up might also remain independent, instead seeking to raise a round of venture capital financing, the people said.
As consumers gravitate towards mobile devices away from laptops and desktops, Facebook, Google and other companies are beefing up efforts to court customers on the go.
The potential bidding tussle for Waze, which uses information from online communities to improve driving directions, reflects the widening importance of maps on smartphones and other handheld gadgets.
Facebook had held talks to buy Waze for as much as US$1 billion, two people said earlier this month.