Boston, MA 05/02/2014 (wallstreetpr) – Recently, Vodafone Group Plc (ADR) (NASDAQ:VOD) has made an announcement that it has now acquired all the shares, that is, 100%, in its Indian subsidiary, named Vodafone India Limited. Also, Vodafone has been given the opportunity to take maintenance to the next level by KONE, a leader in elevator and escalator industry at a global level. This alliance between Vodafone and KONE could prove profitable and beneficial for both the companies, as well as for the consumers.
Acquires its own Indian subsidiary
Vodafone has declared the acquisition of its own subsidiary by the company. This acquisition was completed in March 2014. It completed the acquisition of the indirect equity interests, which were held by others. Now, after this Vodafone Group Plc (ADR) (NASDAQ:VOD) had 89.03%. But today it holds the remaining 10% as well that was held by Piramal Enterprises Ltd. The combined cash spent on the above-mentioned transactions amounted to £1 billion.
KONE chose Vodafone
Vodafone’s M2M remote monitoring technology has been chosen by KONE in order to create a new service related to diagnostics in order to enable proactive maintenance tasks. This would enable KONE to ensure that all the elevators it maintains around the world run smoothly while keeping the downtime minimal. Each KONE lift will have an M2M Vodafone Sim card that would allow one to send and receive operational data wirelessly over the Vodafone network. Vodafone will also help keep track of logs such as the lifts’ number od journey, etc., so that it can be compared with the machine’s history and predict when would the issues arise. This could help KONE to take care of the problem before it arises with Vodafone’s technology’s help. Vodafone’s Director of Machine-to-Machine, namely, Eric Brennies, said that Vodafone Group Plc (ADR) (NASDAQ:VOD) is delighted to be able to help KONE in achieving their goal of operational efficiency to meet all the demands of the customers.
