Vodafone Buys Cobra Automotive, Pushing Towards Connected Cars
Michael Hatamoto / 2 years ago
Telecom giant Vodafone acquired Cobra Automotive in a £115 million deal, expanding its efforts to become a global connected car powerhouse. Cobra Automotive is an Italian company specializing in vehicle tracking and usage-based insurance.
Looking at future generations of vehicles, industry analysts expect the Internet of Things (IoT) to be common place, with car owners accessing cloud-based databases. These connected features allow for remote control, Web-based in-car services, car engine maintenance, and similar aspects.
Vodafone hopes to become more aggressive in the machine-to-machine (M2M) market and expand offerings beyond just connectivity. Expect to see technology companies, auto manufacturers and phone service providers research the market – and it could become lucrative for phone companies trying to bring connected services into vehicles.
Vodafone currently has 250 staff dedicated to M2M operations, and revenue in the specialized department increased 21 percent.
Here is what Erik Brenneis, Vodafone M2M director said in a press statement:
“The combination of Vodafone and Cobra will create a new global provider of connected car services. We plan to invest in the business to offer our automotive and insurance customers a full range of telematics services.”
Vodafone purchasing Cobra should be an excellent strategic move, helping the company continue moving into connected vehicles.
Thank you to Vodafone for providing us with this information
Image courtesy of Salon