Financial Times FT.com

M&A

Vodafone buys mobile social network

By Tim Bradshaw, Digital Media Correspondent

Published: May 17 2008 03:30 | Last updated: May 17 2008 03:30

Vodafone has made its first mobile internet acquisition, paying €31.5m ($49m, £25m) in cash for Zyb, a private Danish company offering social networking and contacts management technology.

Zyb allows mobile phone users to back up their contacts to a web portal, as well as providing instant messaging services and calendar-sharing with friends online. The service has yet to generate revenues, but could become a platform for mobile advertising.

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