5/16/2008 1:22:00 PM
Vodafone to buy online social networking site for £25m
Vodafone will pay £25m (31.5m) for Danish online social networking and management company ZYB.
ZYB is an online tool for mobiles that lets users back-up and share their handsets’ contact and calendar information online.
Pieter Knook, Internet Services Director for Vodafone Group, said: ‘Using a web portal as a link between the PC and the mobile device, ZYB provides an interactive way for people to nurture, contact and develop their relationships with their most important friends and colleagues and builds links with those contacts’ wider networks. This is Web 2.0 in action. ‘
Vodafone said the acquisition of the company is a ‘further advance in the implementation of Vodafone's total communications strategy,’ which it says is delivering new revenue growth by integrating mobile devices and PCs.