Apple not buying Waze for iPhone5

Apple, Waze deal, which created abuzz in silicon valley, is not happening after CNET broke the rumor mill by reporting that Apple has no plans to buy Waze. Apple, Waze deal rumors fever-pitched after TechCrunch reported on Tuesday that Apple was interested in buying social-navigation app maker Waze.

After speaking to various sources, CNET confirm that Apple and Waze have engaged in low-level talks in the past but there is no pending deal for an acquisition. CNET also quoted another source “familiar with Apple’s thinking” saying that the reports of an Apple and Waze deal were completely “fabricated.”

The initial rumors on Apple and Waze deal were believed by many as Apple is currently in need of something to improve its iOS mapping service. According to the rumors, the only roadblock in the deal was price with Apple offering $500 million in total compensation and Waze asking for $750 million.

However, according to the latest updates, Apple has no plans to acquire Waze. With Apple, Waze deal out of picture, speculation of Apple’s deal with mapping firm TomTom have increased. Rabobank International analyst Hans Slob speculated about Apple’s interest in buying TomTom in early December.

Meanwhile, rumours that Apple and Foursquare have been in talks to improve its maps app. The Wall Street Journal has added to the speculation citing “people familiar with the talks” claiming that Apple is “in early discussions to integrate local data from Foursquare Labs In. into its mapping application… as the company continues to build an arsenal of local data to try to take on Google Inc.”