Communications giant Vodafone has announced it will purchase a European social networking business.

The acquisition of ZYB, a social networking and online management firm which specialises in providing technology for mobile platforms, will cost around €31.5 million (£25 million).

Pieter Knook, internet services director for Vodafone Group, said: "[We] understand that the core of any customer's personal and business network is the set of contacts they hold on their mobile phone.

"Using a web portal as a link between the PC and the mobile device, ZYB provides an interactive way for people to nurture, contact and develop their relationships with their most important friends and colleagues."

A spokesperson for ZYB added that he hoped the initiative will build on and increase the convergence between the mobile phone and PC.

Last week, IT researcher Grant Thornton claimed that the voice over internet protocol industry is expected to grow to the point that it generates £13.5 billion in revenue in 2010.



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