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Vodafone Acquires Danish Mobile Social Net ZYB For £25 Million

Vodafone (NYSE: VOD) announced today that it is acquiring 100 percent of the privately-owned Danish mobile social network ZYB for 31.5 million euros (£25 million) in cash. The network operator said the acquisition would help advance its “Total Communications” strategy, which is trying to boost revenues through mobile web and PC offerings, among other services. Though ZYB allows its users to share information and messages with contacts held in their mobile phone address book, it also has an online portal that lets them send messages and images from their PC to multiple mobile devices. The three year old company will remain in Copenhagen, Denmark and becomes part of Vodafone’s Internet Services unit. Since its launch, ZYB had raised $3 million in venture capital from Nordic Venture Partners. (release).

 

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May 16, 2008 5:32 AM ET

Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, Vodafone, Countries, Europe, Scandinavia, Denmark, zyb

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