Money Control reports Google Inc is finalizing a deal to acquire online mapping company Waze for USD 1.3 billion, according to a source familiar with the matter.
The deal is expected to be announced this week, though it was unlikely to occur on Monday, said the source.
"Negotiations are nearly final. There are a couple of details being worked out," a second source said, describing the remaining details as "logistics" rather than significant sticking points, notes Money Control.
Google and Waze declined to comment.
The deal with Google comes after discussions between Waze and social networking company Facebook Inc fell apart last month, according to Money Control. Waze was unwilling to relocate its Israeli-based engineering team to Facebook's US headquarters, adds Money Control.