Vodafone to make M2M move with Cobra takeover

Success would provide it with big telematics/M2M/iOT player

new global provider of connected car - brenneis

Well, Vodafone has found something new to do with its funds war chest inherited by selling its Verizon Wireless stake. It’s going heavily into the telematics/M2M/iOT sector by announcing its intention to voluntary takeover of Cobra Automotive Technologies. Headquartered in Italy and listed on the Milan stock exchange (Borsa Italiana S.p.A), Cobra has operations in a host of countries including Brazil, China, France, Germany, Italy, Japan, South Korea, Spain, and Switzerland as well as the UK.

Described as a global provider of security and telematics solutions to the automotive and insurance industries, the group provides vehicle manufacturers, dealerships and after-market customers with a range of products and services  including usage-based insurance and vehicle tracking.

Telematics is, of course, the original term given to these kinds of specialised services whereas GoMo News prefers M2M (machine-to-machine) communications rather than the even more trendy IoT (Internet of Things).

“The combination of Vodafone and Cobra will create a new global provider of connected car services,” commented Erik Brenneis, director of M2M, Vodafone.

He continued, “We plan to invest in the business to offer our automotive and insurance customers a full range of telematics services.”

The offer for €1.49 per share in cash – valuing the company’s entire fully diluted ordinary share capital of Cobra at €145 million (£115m),  is expected to be launched in the coming weeks and will be made subject to the relevant provisions of Italian law.

This morning [June 16th 2014], Vodafone’s share price was down 0.49 per cent (0.90) to 194.10.

About Dave Evans

Dave Evans was a long established commentator on both the IT and cellular industries. His last focus was on share price trends within the sector. He passed away in September [2014].
This article was published in Financial, M2M, Vodafone, mobile news, verizon and tagged , , , . Bookmark the permalink.

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