Google buys Israeli navigation app start-up Waze

Google is set to acquire Israeli app start-up Waze for $1bn (£640m).

According to Israeli newspaper Haaretz, Waze had been in talks with Facebook but chose Google as the preferred bidder. 

Under the deal, Waze's research and development (R&D) centre will remain in Israel for at least three years.

Both companies have yet to comment on the reports.

Waze is a crowd-sourced mobile navigation app for drivers. It uses information provided by its 47 million members to populate its maps.

Brian Proffitt, mobile technology expert, told Reuters last month: "As larger vendors acquire mapping data, businesses and consumers will discover that it's more difficult to gain free access and correct errors."