When the Israel start-up Waze began in 2009, it is unlikely that the founding fathers could have anticipated the success the application enjoys in the international community today. The GPS navigation program which can be downloaded to smartphones free of charge has become an integral part of driving for a growing number of motorists.

Yediot Achronot reports that Apple has entered into preliminary talks with Waze Mobile as the computer giant signals an interest in acquiring the company. The report adds Apple appears willing to pay $500 million for Waze towards including it on the growing list of services offered to iPhone and iPad owners.

Waze is unique in that the real time GPS program not only assists a driver in navigating a route, but provides traffic updates, reports of delays, accidents, police radar and other information based on constant updates received from Waze users on the roadways.

Globes Israel Business Arena sets the purchase price at $400 million, adding both Apple and Waze declined comment.

(YWN – Israel Desk, Jerusalem)