Vodafone Buys Mobile Back-Up Provider

Vodafone has announced that it is buying the mobile back-up service provider, ZYB, a privately-owned company based in Denmark for EUR31.5 million (US$48.8 million). The company also offers a range of social networking services accessed via a mobile phone.

In a statement, Vodafone said that "the acquisition of ZYB is a further advance in the implementation of Vodafone's Total Communications strategy which is delivering new revenue growth around fixed broadband, mobile advertising and a rich set of internet services that integrate the mobile and PC customer experience. ZYB fits into this strategy by enhancing the range of communications services Vodafone can provide to its customers."

ZYB will remain based in Denmark and upon acquisition will be incorporated into Vodafone's Internet Services Division.

Posted to the site on 16th May 2008