Vodafone expands into car electronics with Italian deal
LONDON, June 16
LONDON, June 16 (Reuters) - Vodafone said on Monday it had agreed to buy an Italian provider of electronics services to the car industry for 145 million euros ($197 million) as part of its strategy to start connecting devices such as cars and other machines.
The British company said it had agreed to buy Cobra Automotive Technologies, a provider of security, telecommunications and vehicle tracking.
Vodafone, like other mobile operators, is looking to expand into the so-called machine-to-machine industry to connect millions of devices, as a new source of revenue.
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