Google close to snapping up Waze

Google is close to buying Waze for $1.3bn an Israeli newspaper reported yesterday, potentially trumping rival offers for the Israeli mapping start-up. The report on the website of financial newspaper Globes did not cite sources or provide further details. Last month sources said the Internet search giant was in talks to acquire Waze, while a second Israeli newspaper reported Facebook was willing to pay up to $1bn for the firm.