Internet giant Google announced Tuesday that it is purchasing Waze, an Israeli company whose navigation software uses social features to improve directions and traffic reports. The average value of private companies acquired in the Israeli high-tech sector has steadily risen since 2008, according to IVC Research Center, reaching $111 million last year. But at $1.03 billion, the sale of Waze is one of the largest high-tech acquisitions in Israeli history. Here's how it ranks among deals since 2005.

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Google Inc.'s $1.03 billion purchase of Israeli navigation software maker Waze marks an important milestone for the country that affectionately calls itself "Start-Up Nation."

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Google is buying online mapping service Waze in a $1.03 billion deal that keeps a potentially valuable tool away from its rivals while allowing it to gain technology that could improve the accuracy and usefulness of its own popular navigation system.