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Vodafone expands into car electronics with Italian deal
June 16, 2014 / 6:20 AM / 3 years ago

Vodafone expands into car electronics with Italian deal

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.

$1 = 0.7345 Euros Reporting by Kate Holton; editing by Sarah Young

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