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SEARCH NEWS: Google 'to acquire' Waze for $1.3 billion

Google is said to be gearing up to acquire crowdsourced Israeli maps and navigation app Waze in a deal worth around $1.3 billion.

It has been reported the search engine has beaten rivals Facebook and Apple after a frantic bidding war. However, according to Haaretz, the deal is yet to be finalised. 

The Israeli newspaper also revealed that the deal's conditions include the agreement that Noam Bardin will remain as CEO and the app's development centre staff will remain in employment in order to allow the company to continue its development in Israel ‘for at least three years.’

Image courtesy of Waze