Vodafone expands into car electronics with Italian deal
Published 16/06/2014 | 07:57
Vodafone has agreed to buy an Italian provider of electronics services to the car industry for €145m as part of its strategy to start connecting devices such as cars and other machines.
The British company said it had agreed to buy Cobra Automotive Technologies, a provider of security, telecommunications and vehicle tracking.
Vodafone, like other mobile operators, is looking to expand into the so-called machine-to-machine industry to connect millions of devices, as a new source of revenue.