Apple And Waze Deal Not Happening

No, the Apple-Waze deal isn’t going to happen. If you’ve been following the news lately, there was a recent rumor that Apple might acquire mapping application services provider Waze. Well, it seems that the rumor is half-true. The folks over at The Next Web are saying that both companies have indeed negotiated about a possible deal. Waze reportedly declined the offer because its investors were aiming for a much higher price, roughly nearing $1 billion.

Sources also told TNW that Waze received multiple offers last year, and that the company held a number of closed-door meetings to talk about the future of the company and even a possible IPO. On the other hand, CNET is reporting that a source familiar with Apple’s plans has told them that the company isn’t interested in buying Waze. Contrary to TNW’s report, CNET says that Apple did not make an offer and that the rumor was just “fabricated.” It looks like the rumor has just gotten even more complicated. Based on the conflicting reports, perhaps it is safe to say that the deal isn’t happening.

Gene Ryan Briones
Categories: Apple
Tags: business, Waze