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Friday 22 August 2014

Vodafone expands into car electronics with Italian deal

Published 16/06/2014 | 07:57

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The Vodafone logo is seen at the counter of the shop in Prague February 7, 2012. REUTERS/David W Cerny
The Vodafone logo is seen at the counter of the shop in Prague February 7, 2012. REUTERS/David W Cerny

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.

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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.

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