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Facebook, Waze reportedly call off acquisition deal

A possible deal between the two companies fell apart over at least one key detail, according to AllThingsD.

Waze's mobile navigation app.
Waze's mobile navigation app.
Waze

Mobile app maker Waze apparently won't be joining the ranks of Facebook.

After months of chatting about a potential acquisition of Waze by Facebook, the two companies have put an end to the discussion, according to AllThingsD. Facebook had reportedly been ready to spend as much as $1 billion to pick up the navigation app maker. But the two apparently couldn't reach an agreement.

Sources told AllThingsD that talks fell apart recently due in part to disagreements over whether the Israel-based Waze team would move to the U.S. and integrate itself into Facebook's California headquarters. Other unspecified reasons apparently stalled the deal as well.

Waze offers a socially networked navigation app in which drivers can share traffic information and other real-time data with fellow Waze users on the road. Facebook obviously would've been interested in the social aspect, especially since the company has no mapping or GPS app of its own.

Representatives from both companies declined to comment to AllThingsD. A spokesperson for Facebook also declined CNET's request for comment. CNET has contacted Waze as well and will update the story if the company responds.

Update, 9:55 a.m. PT: Added response from Facebook.