Vodafone to buy Sweden’s Wayfinder Systems

Vodafone Group Plc said on Tuesday it would make a public offer for navigational and locating services firm Wayfinder Systems, valuing the Swedish company at 239 million Swedish crowns ($30 million).

"Wayfinder's exceptional expertise in this space and technology capabilities will enable Vodafone to develop a suite of exciting new location-aware products and services," Pieter Knook, Internet Services Director at Vodafone, said in a statement.

Vodafone said it would offer 12 crowns per share, compared with Monday's closing price of 3.40 crowns.

Vodafone said Wayfinder's board recommends the bid, and Wayfinder shareholders, controlling some 45 percent of shares, have agreed to accept the offer.