Vodafone buys car tech firm
Vodafone is buying an Italian car electronics maker for €145m, seeking to get ahead in the race to connect more products to the internet and offset slowing growth in its core mobile phone business.
Telecoms and technology firms are looking to tap an expected surge in demand for so-called machine-to-machine (M2M) communications – or using the internet to get products ranging from cars and washing machines to medical equipment to carry out more tasks, more efficiently.
Cars are at the forefront of the new industry, as manufacturers strive to add new features such as streaming music, playing audio books, navigation aids and security improvements to their vehicles. (Reuters)