Vodafone to acquire Wayfinder for $29.4m



Vodafone to acquire Wayfinder for $29.4m
Vodafone to acquire Wayfinder for $29.4m
Wireless operator Vodafone announced today a takeover bid on Wayfinder System, a Sweden-based supplier of navigation and LBS solutions, for $29.4 million. The board of directors of Wayfinder Systems AB unanimously recommended the public offer from Vodafone Europe announced the company this morning.

Shareholders in Wayfinder, together holding approximately 44.9 per cent of shares, have given Vodafone irrevocable undertakings to accept the offer. The bid represents a premium of 252.9 per cent compared to the closing price of SEK 3.40 for Wayfinder’s shares on its last trading day prior to the offer.

“Vodafone Group is committed to delivering new revenue growth around a rich set of mobile internet services. Location-based services make up an important part of this commitment, enabling Vodafone Group to offer customers new, exciting services as a differentiator while driving mobile data growth. This acquisition will help to ensure that more of these unique services are delivered to a wider base of customers across the Vodafone group footprint”, said Vodafone.

Tuesday, December 9th 2008


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