Vodafone has agreed to acquire ZYB, a Denmark-based operator of a social networking and online management tool that lets mobile phone users back-up and share their handsets' contact and calendar information online. The deal is valued at EUR 31.5 million in cash. Sellers include Nordic Venture Partners and ZYB's founders.
Vodafone* today announces that it has agreed to acquire 100% of ZYB, a privately-owned company based in Denmark which operates a social networking and online management tool enabling mobile phone users to back-up and share their handsets' contact and calendar information online. The acquisition will be made for a cash consideration of Eur31.5 million.
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 is unique amongst social networking sites as it is designed with the mobile device at its heart, allowing customers to share information and messages between their friends and colleagues who are held in their mobile phone's address book.
ZYB increases communication choices for customers enabling them to send messages and images from their PC to multiple mobile devices in their mobile community, as well as taking advantage of the functionality of an instant messaging service.
Pieter Knook, Internet Services Director for Vodafone Group, said: “Vodafone understands that the core of any customer's personal and business network is the set of contacts they hold on their mobile phone.
“Using a web portal as a link between the PC and the mobile device, ZYB provides an interactive way for people to nurture, contact and develop their relationships with their most important friends and colleagues and builds links with those contacts' wider networks. This is Web 2.0 in action.
“This acquisition is consistent with our strategy of delivering products and services which meet our customers' total communications needs.”
Tommy Ahlers, CEO of ZYB, added: “I am delighted that ZYB is to join Vodafone, the world's largest international mobile community.
“Vodafone and ZYB share the same vision: to create a new mobile experience that builds on the convergence between the mobile and PC