Vodafone acquires ZYB mobile social networking site Pays over 31 million euros for company that's "web 2.0 in action"

16 May 2008 10:47 GMT / By Amy-Mae Elliott

Vodafone has announced that it has agreed to acquire 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.

Vodafone says the acquisition of ZYB is a further advance in the implementation of Vodafone's Total Communications strategy.

ZYB is described as "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 enables users 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: "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".

The acquisition will be made for a cash consideration of 31.5 million euros. ZYB will remain based in Denmark and upon acquisition will be incorporated into Vodafone's Internet Services Division.