“Facebook Inc is in talks to acquire Waze, a navigation app for mobile devices, in a deal that could be worth as much as $1 billion, according to people with knowledge of the matter,” Evelyn M. Rusli reports for The Wall Street Journal. “While these people characterized the discussions as serious, they cautioned that a deal may still fall apart.”

“For Facebook, Waze represents an opportunity to expand its mobile expertise and acquire a valuable asset in the mapping space,” Rusli reports. “The talks come as Facebook tries to coax its users to spend more time on its mobile applications, where it can serve more mobile ads.”

Rusli reports, “As Facebook nears the one-year anniversary of its May 2012 initial public offering, the company has been working to beef up its mobile offerings as users have migrated increasingly to its service on mobile devices. Facebook shares, which fell eight cents Thursday to $27.04, remain well below the company’s $38 IPO price.”

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