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Apple linked with Waze acquisition

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Apple WWDC 2012: Maps on the iPhone.

© Apple

Apple is reportedly in talks to acquire social-navigation app-maker Waze.

TechCrunch claims that the iPhone maker is prepared to offer $500 million (£309m) for the business, but its owners are holding out for $750 million (£433m).

Waze is a social-navigation application with more than 30 million users who share real-time traffic information as they travel. This data is then used to deliver improved directions to subscribers.

Apple's interest in the company is thought to be related to its ill-fated iOS 6 Maps application, which has been marred by inaccuracies since launch.

The Cupertino firm has been working on correcting the issues plaguing its mapping software ever since, and the acquisition of Waze could help achieve this goal.

Last month, a new Google Maps native app was released for iOS devices, racking up 10 million downloads in its first 48 hours.

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