Google in talks to buy Waze for about $1 billion

Google Inc is considering buying Israeli mobile satellite navigation start-up Waze Inc, which may lead to a bidding war with Facebook Inc, Bloomberg news reported, citing people familiar with the matter.

Waze is seeking more than $1 billion and is fielding expressions of interest from multiple parties, saidBloomberg, citing a source. Other media have reported that Facebook Inc has held talks to buy Waze for as much as $1 billion. (Reuters)