Vodafone Completes WayFinder Purchase


Vodafone (NYSE: VOD) has obtained 98.13 percent of the shares in Swedish navigational software firm WayFinder Systems, mostly coming from its public cash offer being accepted but about a fifth being bought in the market and private transactions. “Vodafone said it intends to initiate compulsory acquisition proceedings under the Swedish Companies Act, in order to acquire the remaining shares in Wayfinder, following completion of the Offer” notes EasyBourse. Vodafone made the $30 million offer back in December. Vodafone plans to use the acquisition to develop location based products and services.

Comments are closed.