Vodafone to purchase Cobra for €145 million and push into the connected car market
Vodafone has today announced that the company plans to purchase Italy-based Cobra, which specializing in electronic services for automobiles, for €145 million ($197 million). The move is part of the company's strategy to connect automobiles by providing integrated technology, much like what Nokia is attempting to achieve with HERE, Connected Car and its partnerships with a handful of auto manufacturers.
As lightly touched on above, Cobra provides security, telecommunications and vehicle tracking for both the automobile an insurance industries. With connected tech advancing forward and smartphones becoming more integrated in vehicles, it's an interesting move for the British mobile operator. The deal is expected to be completed by Q3 2014, which will pave the way for Vodafone to begin selling its newly acquired services for consumers in the car.
We'll keep our eyes open to see what Vodafone plans to do post-acquisition.