Facebook is considering buying GPS company Waze for $800 million to $1 billion, Israeli daily newspaper Calcalist reports.
The talks are in an advanced stage, Calcalist claims. The two companies started talking started six months ago, due diligence is underway and a term sheet was signed.
Waze, whose turn-by-turn navigation app uses crowdsourcing to gather real-time conditions on the road, has had 44 million users in April 2013.
The two companies are partners; Waze already lets users share their drive with Facebook friends. Buying a social, mobile app with a strong user base makes sense for Facebook; if the acquisition happens it'll be interesting to see what Facebook's plans are in the GPS/location space.
Facebook has spent that kind of money on a mobile app before when it acquired Instagram for 1 billion dollars in April 2012. The company also already acquired two Israeli startups: Snaptu in March 2011 for $70 million and Face.com in June 2012 for $60 million.