Vodafone Acquires Danish Mobile Social Net ZYB For $48.7 Million
Strange are the ways: Danish mobile aps and networking company Zyb just announced its acquisitions of local mobile social networking service Imity last month. And now Vodafone (NYSE: VOD) announced today that it is ZYB for 31.5 million euros ($48.7 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).
SEE ALSO: Mobile Phonebook Firm Zyb Buys Danish Social Network Imity
Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Social Media, Companies, Vodafone, zyb
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