Vodafone Nabs Wayfinder for $30M

Medford, Cassimir
December 2008
Red Herring;12/9/2008, p6
Trade Publication
The article reports on the offer made by Vodafone Group to acquire Swedish Global Positioning System (GPS) application developer Wayfinder. Vodafone made an offer of roughly $30 million which translates to $1.47 per share. Vodafone has also signed a deal with Western Union to pilot an application that allows residents of Reading, England, to send money via mobile phones to relatives and friends in Kenya. Some of the navigation applications offered by Wayfinder include turn-by-turn system and an application that tracks outdoor activities.


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