Advised Wayfinder Systems, a provider of innovative mobile location-based services, on its acquisition by Vodafone Group
Arma Partners is pleased to announce that it acted as sole financial advisor to Wayfinder Systems AB (NGM: WAYF), including the provision of a fairness opinion to the Board of Directors, in relation to the recommended cash offer to acquire Wayfinder Systems AB made by Vodafone Group Plc.
The recommended cash offer of SEK 12.00 per share values the entire issued share capital of Wayfinder at approximately SEK 239 million (or $30 million), and represents a premium of approximately 253% to the Wayfinder closing price on 8 December 2008, and a premium of approximately 30% to the volume weighted average Wayfinder closing price for the twelve month period prior to announcement.
Wayfinder is one of the pioneers of mobile location-based services and offers a range of innovative products capable of greatly enriching the customer’s mobile experience. Customers can use the technology to search and find places of interest such as restaurants, petrol stations and ATMs. The Company provides services to major mobile phone manufacturers and operators all over the world as well as to more than 2 million unique users. The head office is located in Sweden with regional offices in France, Finland and Romania.
The Vodafone Group is the world’s leading international mobile communications group with approximately 280 million customers. Vodafone Group is committed to delivering new revenue growth around a rich set of mobile Internet services. Location-based services make up an important part of this commitment, enabling Vodafone Group to offer customers new, exciting services as a differentiator while driving mobile data growth.