Vodafone Buys Vehicle-Tracking Software Company

U.K.-based Vodafone Group plc has acquired 74% of telematics provider Cobra Automotive Technologies SpA.

Terms were not disclosed, but Bloomberg News says Varese, Italy-based Cobra Automotive has a market value of €143 million ($194 million).

Vodafone is the world's second-largest wireless carrier system after China Mobile Ltd. The company, which also has offered to buy the rest of Cobra Automotive from remaining shareholders, says the acquisition will help it expand its cellular services to include in-vehicle connectivity and services.

Based in Varese, Italy, Cobra Automotive develops and produces antitheft, park assist and/or telematic systems and tracking services for insurance companies, fleet operators and such carmakers as Audi, Bentley, Ferrari, Infiniti, Hyundai/Kia, Lamborghini, Maserati, McLaren, Nissan, Porsche, Renault, Toyota, Volvo and Volkswagen.

Vodafone already has deals with Audi, BMW and Volkswagen to supply in-vehicle SIM data cards, which carry service subscriber data.