Apple Is Not Buying Waze After All

According to multiple sources, the Apple-Waze acquisition is actually not happening. The two companies do share some common ground, but talks of a buyout are still far off, these sources say.

“…the deal isn’t actually happening,” according to Tech Crunch citing multiple sources close to the situation. It was just a rumor, nothing more, nothing less, the site reports.

The rumor could have been manufactured by one of the parties, according to MG Siegler, as a method of driving the purchase price up or down (depending on which of the two parties spawned it).

Again, this is pure speculation at this point. There have been some rumors that Apple offered to pay a sum and Waze wanted a few hundred million more, but nothing has been deemed official.

For those who aren’t very familiar with Waze, it’s a free social GPS application with turn-by-turn navigation. Developed by the Israeli start-up Waze Mobile, it’s currently compatible with Apple’s iOS, Google’s Android, Windows Phone, Maemo and Symbian. The company is also working on a beta version for BlackBerry.