3/15/2010 9:58:00 AM
Vodafone closes navigation company after one year
Vodafone has been forced to close its navigation company,
Wayfinder, after companies such as Nokia transformed the market by making
location-based services free.
Vodafone closed the Swedish location software business just
one year after acquiring it for $33m. It had bought the firm in a bid to push
into the area as a growth area for operator services.
However, the economics of the market have changes, with
Nokia making its Ovi Maps service free as it looks to tackle Googe head-on.
Vodafone will end its bid to develop its own location aware
services and will instead look to partner with third parties for free location
Wayfinder has about 95 employees in Sweden, Romania
and the UK,
and most will be made redundant.