Vodafone closes navigation company after one year

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 offerings instead.

Wayfinder has about 95 employees in Sweden, Romania and the UK, and most will be made redundant.

Written by Mobile Today
Mobile Today

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