Vodafone to acquire Danish firm

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Telecom major Vodafone on Friday said it would acquire Denmark-based ZYB, which operates a social networking site focused on mobile phone users, for about 31.5 million euros.

After acquisition, ZYB would be incorporated into Vodafone's Internet Services Division, the company said in a regulatory filing.

ZYB operates a social networking and online management tool enabling cellphone users to share their handsets' contact and calendar information online.

Further, the buyout would help in enhancing the range of communications services offered by Vodafone.

"This acquisition is consistent with our strategy of delivering products and services which meet our customers' total communication needs," Vodafone Group's Internet Services Director Pieter Knook said.

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 and builds links with those contacts' wider networks. This is Web 2.0 in action, he added.