€145 Million for an Italian Telematics Vendor
Vodafone announced its intentions to acquire telematics supplier Cobra Automotive Technologies, having entered into agreements with both majority and minority shareholders. The tender is to be launched in the next weeks, subject to Italian law, and is expected to be finalized in 3Q 2014, subject to antitrust approvals.
Cobra Automotive Technologies provides aftermarket and OEM telematics solutions mainly centered around usage-based insurance, vehicle tracking, and fleet management in Italy and Spain. Cobra provides stolen vehicle recovery services on a pan-European level to Audi, Bentley, Ferrari, Infiniti, Lamborghini, Maserati, McLaren, Nissan Europe, Tesla, Porsche, and Renault. Services are also available in Russia, South Africa, and Malaysia.
Cobra is listed on the Milan stock exchange and operates globally, with operations in Brazil, China, France, Germany, Italy, Japan, South Korea, Spain, Switzerland, and the United Kingdom. ...
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