Facebook is in negotiations to buy an Israeli web navigation company for $1 billion.
Facebook approached Waze six months ago but recently upped its bid from $200 million to $1 billion. Waze has refused offers in the past including Apple’s bid for $500 million.
The Waze app provides 44 million subscibers a navigation system which uses real-time information about road conditions in Israel.
As part of the negotiations, Waze has asked to remain in Israel as an independent brand.