Vodafone Automotive

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Vodafone Automotive S.p.A.
Società per azioni
Industry Automotive
Founded
  • 1975 (as Delta Elettronica s.a.s. di Dall'Osto Isidoro & C.)
  • 2004 (as Cobra Automotive Technologies)
  • 2015 (as Vodafone Automotive)
Founders Romeo Roman, Serafino Memmola, Isidoro Dall'Osto, Maria Pagliara
Headquarters Varese, Italy
Key people
 Erik Brenneis (CEO), Mario Rossetti (Chairman)
Products
  • Anti-theft vehicle
  • Assistance Systems maneuvers
  • Services for the recovery of stolen vehicles
  • Wireless Communication Systems
  • Management services for corporate fleets
  • Multimedia products for Camper
Revenue Decrease€110.2 million
Increase€4 million
Profit Decrease€156.6 million
Number of employees
 Decrease832
Subsidiaries
Website automotive.vodafone.com

Vodafone Automotive SpA, based in Varese, Italy, offers end to end solutions, including automotive telematics and electronics, through two business units that combine their expertise in delivering vehicle centric telematic platform and related services as well as state of the art electronic systems and components. The company was originally listed on the Milan Stock Exchange on 12 December 2006. Originally named "Cobra Automotive Technologies SpA" was acquired by Vodafone PLC in August 2014 for €145 million ($191 million) which was equivalent to the Cobra FY13 revenue, and delisted from the Milan Stock Exchange. On 1 April 2015 has changed name.[1]

The operations of Cobra Automotive Technologies are delivered through two business units: Vodafone Automotive Telematics Services, dedicated to developing infrastructure and telematics services, and Vodafone Automotive Electronic Systems, focused on the design, development, production and distribution systems and electronic components. Vodafone Automotive Telematics SA, previously 80% owned by Vodafone Automotive and 20% by Tracker Connect Proprietary Limited, has direct operations in Brazil, Italy, France, Germany, Spain, Switzerland and the United Kingdom. In Malaysia, Russia and South Africa Cobra has strong relationships with leading regional players. Vodafone Automotive Electronic Systems has direct operations in Italy, China, Japan and South Korea.

History

The company was founded in 1975 under the name "Delta Electronics & C. sas Dall'Osto Isidoro" by Romeo Roman, Serafino Memmola e Isidoro Dall'Osto, and immediately begins to operate, one of the first in Italy, in the design of anti-theft vehicle, called by Serafino Memmola Cobra (hence the current name of the company). In 2015, has changed name in "Vodafone Automotive".

Over the years it has undergone several transformations and name changes:

  • In 1976 is transformed into general partnership;
  • In 1982 is transformed into limited liability company;
  • In 1985 is transformed into joint stock companies, while keeping the name Delta Elettronica SpA;
  • In 2004, following the incorporation of the company Cobra Italy srl, formerly known as Proco Italia srlì, founded in 1995 and wholly owned by the 2000, has assumed its present name Cobra Automotive Technologies SpA.
  • In 2007, Cobra made three acquisitions in France, Italy and the UK, creating new direct branches and start the project for the construction of the regional headquarters for Asia in China.
  • In 2008, Cobra opens an office in São Paulo, Brazil, dedicated to developing telematics.
  • In 2015, Vodafone Automotive is the new trading name for Cobra Automotive Technologies.

Currently the group's activity is divided into three areas:

  • the design and manufacture of electronic systems for cars and motorcycles vehicles, in particular anti-theft systems and health care systems in low-speed maneuvers;
  • design and management of geolocation services;
  • marginal, as part of the group, is the activity of the German subsidiary Cobra Deutschland Gmbh, which also distributes multimedia products to be installed on RV.

On June 16, 2014 Vodafone Group PLC announced it had agreed to buy Cobra Automotive Technologies SpA for €145 million as part of its Machine to Machine (M2M) strategy to connect and better manage physical devices, also known as the "Internet of Things" (IOT).

On August 7, 2014 [2] Vodafone confirmed that its voluntary tender offer (the “Offer”) for security and telematics provider Cobra Automotive Technologies S.p.A. (“Cobra”) had become wholly unconditional. The Offer settled on 8 August 2014. The total consideration for the entire issued share capital of Cobra was €145 million (£115 million / US$191 million).

Vodafone purchased more than 95% of Cobra’s share capital through the Offer and then started proceedings to purchase the remaining shares. Cobra became a wholly owned subsidiary of Vodafone and was de-listed from the Italian Stock Exchange (Borsa Italiana). The purchase of remaining shares and de-listing of Cobra were expected to occur on 14 August 2014. As of August 28, 2014 Cobra Automotive Technologies appears to no longer be listed on the Milan Stock Exchange.

From 1 April, Vodafone Automotive is the new trading name for Cobra Automotive Technologies.

Major Shareholders

Significant investments

The company also indirectly controls the company :

  • Nexo CJSC - (Russia) - 24% (by Cobra Telematics SA)
  • Wunelli Ltd. - (United Kingdom) - 22.7% (by Cobra Telematics SA)

References

  1. ↑ http://m2m.vodafone.com/cs/m2m/insight_news/vodafone-automotive-the-new-name-for-cobra-automotive-technologies-2015-04-01
  2. ↑ http://www.vodafone.com/content/index/media/vodafone-group-releases/2014/vodafone_complete_acquisition_cobra.html

Notes

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