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Vodafone taps into car industry

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Vodafone taps into car industry

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British telecoms company Vodafone has agreed to buy an Italian provider of electronics services to the car industry in a deal worth 145 million euros.

The purchase of Cobra Automotive Technologies, a provider of security, telecommunications and vehicle tracking for the automotive and insurance industries, is part of a Vodafone plan to expand into the so-called machine to machine industry.

Mobile carriers across the globe see the sector as a significant source of growth.