Telecom company Vodafone has completed its acquisition of Swedish mobile navigation provider Wayfinder Systems. Vodafone now owns 98.13 percent of Wayfinder, and says 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.” Vodafone will use Wayfinder’s software in developing its location-based platform and applications for mobile handsets.
Vodafone announced the $30 million offer for Wayfinder in December 2008. You can read more about the ramifications of the deal in my previous article.
via easybourse
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