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Google's $1.1 Billion Deal for Waze Falls Through

In a surprise move, Google has announced that its $1.1 billion deal to acquire Israeli navigation app Waze has fallen through. The deal, which was first announced in June, was set to be completed in the coming weeks.

According to sources, the deal fell apart due to disagreements over the terms of the deal. Waze's founders had been pushing for a higher valuation, while Google had been hesitant to meet their demands.

The collapse of the deal is a major blow to Waze, which had been riding high on the success of its popular navigation app. The app, which uses crowdsourced data to provide real-time traffic updates, has become a favorite among drivers in Israel and beyond.

Google, meanwhile, had been looking to expand its presence in the mobile mapping space. The company had seen Waze's success and wanted to integrate its technology into its own mapping products.

The failure of the deal is a setback for both parties, and it remains to be seen what the future holds for Waze. The company has not commented on the situation, but sources suggest that it may be exploring alternative options.

In the meantime, Google will have to regroup and reassess its plans for the mobile mapping space. The company has been trying to catch up with its rivals, including Apple and Microsoft, which have made significant strides in recent years.

The collapse of the Waze deal is a reminder that even the biggest deals can fall apart at the last minute. It will be interesting to see how this situation plays out in the coming weeks and months.