Vodafone is ramping up its drive into the connected world with plans to buy Cobra Automotive Technologies for £115m.
The Italian company provides security and telematics solutions to the automotive and insurance industries. Listed on the Milan stock exchange, the company has a global presence which includes operations in Brazil, China, France, Germany, Italy, Japan, South Korea, Spain, Switzerland and the UK.
The group provides vehicle manufacturers, dealerships and after-market customers with a range of products and services, including telematics, usage-based insurance, and vehicle tracking.
Announcing the planned acquisition Vodafone said: ‘The acquisition of Cobra is in line with Vodafone’s strategy to expand its machine-to-machine (M2M) capability beyond connectivity. Cobra’s telematics products and expertise will enable Vodafone to provide a more comprehensive range of end-to-end services to automotive customers.’