Vodafone to purchase Cobra Automotive Technologies for $197.5M

|About: Vodafone Group Plc (VOD)|By:, SA News Editor

Vodafone (VOD) has announced it plans to buy Cobra Automotive Technologies for €145M ($197.5M).

The acquisition will increase Vodafone's machine-to-machine capabilities, and provide a greater amount of services to automotive customers.

The offer is still pending antitrust approvals, and is expected to complete in the third quarter of 2014.