People with knowledge of the negotiations say Waze wants $750M / €569M
Apple is reportedly talking to social-navigation service Waze to acquire its mapping IP, according to sources who claim to have knowledge of the negotiations between the two parties.TechCrunch reports that these sources said Waze was looking to gain $750 million on the deal. Apple, however, offered just $400 million / €303 million and some extra pocket change in earn-outs.
Apple would benefit immensely from this acquisition as it struggles to fix the beleaguered iOS Maps service. For those of you who’ve missed the fiasco, Apple actually fired one of its top executives over the troubles incurred by the ill-fated Maps application in iOS 6.
The tech site reached out to both parties for comment and, not surprisingly, got nothing. An Apple spokesperson said, “We don’t comment on rumors or speculation,” and Waze’s people said, “we never comment on rumors.”