Report: Apple Not Seeking to Purchase Waze

Rumors that Apple wants to acquire Israeli social navigation app developer Waze are false, according to a report by CNET.

The report states that talk of Apple investigating the acquisition are “fabricated” and that there have been no talks between the companies.

TechCrunch had reported that Waze had asked for $750 million, with Apple offering $400 million with another $100 million in incentives, but has since retracted.