Tuesday, 17 June 2014

Vodafone Group plans to buy Cobra Automotive

Vodafone employs 250 staff at its M2M operations

Vodafone Group PLC stated that it has agreed to buy Cobra Automotive Technologies SpA, an Italian provider of electronics services to the car industry, for EUR145 million ($197.5 million).
Report stated that British mobile telecommunications giant, is planning to develop its business in the so-called "machine-to-machine" (M2M) industry.
Vodafone employs 250 staff at its M2M operations, which reported a 21% rise in revenue for the fiscal year ended March 31.
The company reportedly said it has increased M2M connections to 16.2 mn.

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