(CercleFinance.com) – The European Commission announces that it has authorized the creation of a joint venture, DABCO Limited, by Sumitomo Corporation and Vodafone Group.
This joint venture will develop and market ‘Economy of Things’ products and services to enable connected devices, vehicles and machines to communicate, transact and trade autonomously with each other.
As a reminder, Sumitomo is a global trading and investment company while Vodafone is a telecommunications group active in Europe and Africa.
The Commission concluded that the proposed acquisition would not raise competition concerns, as the joint venture has negligible actual and expected impact in the European Economic Area.
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