Telecoms giant Vodafone is to take over Cobra Automotive Technologies, the Italian provider of security and telematics solutions to the automotive and insurance industries.Cobra provides vehicle manufacturers, dealerships and after-market customers with a range of products and services, including telematics, usage-based insurance, and vehicle tracking.Vodafone has announced its intention to acquire the Milan-listed group through a voluntary tender offer at €1.49 per share in cash, valuing the firm at €145m.The company said that purchase is in line with its strategy to expand its machine-to-machine (M2M) capability beyond connectivity.The UK group has agreed with Cobra's main shareholders, who together own 73.96% of the firm, to agree to tender their shares in the offer. It has also agreed with certain minority shareholders of Cobra's Telematics subsidiary to acquire a 20% stake for €20m, conditional on completion of the offer."The combination of Vodafone and Cobra will create a new global provider of connected car services," said Erik Brenneis, Director of M2M at Vodafone. "We plan to invest in the business to offer our automotive and insurance customers a full range of telematics services."BC