Apple not interested in acquiring Israeli social app maker Waze — report

Apple store NYC

US technology giant Apple Inc (NASDAQ:AAPL) does not plan to acquire Israeli social mobile applications provider Waze Ltd, CNET said quoting a knowledgeable source.

The report follows speculations that the parties were in takeover discussions.

TechCrunch, which cited insiders, said on Wednesday that the US firm was proposing USD400m (EUR306.6m) in cash and earn-out payments of USD100m, although the target was hoping to pocket USD750m. Later the news agency reported that there was no deal.

The rumours about Waze and Apple also follow a statement by analyst Hans Slob of Rabobank International a month ago who claimed that there was a 30% chance of the US firm proposing to buy Dutch portable navigation devices (PNDs) maker TomTom NV (AMS:TOM2).

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