Vodafone agreed to acquire 100% of ZYB, a privately owned company based in Denmark. ZYB operates a social networking and online management tool allowing mobile phone users to back-up and share their handsets' contact and calendar information online, for a cash consideration of €31.5 million.
Vodafone said the acquisition represents another advance in the implementation of its Total Communications strategy, which is providing new revenue growth around fixed broadband, mobile advertising and internet services integrating the mobile and PC customer experience. It claimed ZYB improves the range of communications services Vodafone can offer to customers.
ZYB is designed with the mobile device in mind and enables users to share messages and information between colleagues and friends held in their mobile phone's address book. It reportedly expands communication options for users, giving them the functionality of an instant messaging service and allowing them to send messages and images from their PC to multiple mobile devices.
According to Vodafone, by using a web portal as a link between the PC and mobile device, ZYB offers an interactive way for people to contact and develop relationships with friends and colleagues and establish links with wider networks.