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4-Traders Homepage  >  Shares  >  London Stock Exchange  >  Vodafone Group plc    VOD   GB00B16GWD56

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Vodafone, BAE Form Strategic Five-Year Partnership

02/18/2013 | 02:26am US/Eastern

LONDON--BAE Systems PLC (>> BAE Systems plc), a defense, aerospace and security company, and mobile firm Vodafone Group PLC (>> Vodafone Group plc) Monday announce the formation of a strategic five-year partnership to provide businesses with a range of advanced communications security products and services, initially focused on smartphones and tablets.

MAIN FACTS:

-Additionally, BAE Systems said it intends to select Vodafone as its preferred supplier of mobile communications worldwide, excluding the U.S.

-First commercial element of the strategic partnership between Vodafone and BAE Systems will be a new cloud-based mobile security solution--Vodafone Mobile Threat Manager--to be brought to market in Spring and initially available to Vodafone's largest 1,500 global enterprise customers.

-Vodafone Mobile Threat Manager works across all networks, scanning traffic to and from a company's mobile devices in order to safeguard against malicious attacks and block inappropriate content, without impacting on device performance.

-BAE Systems will also confirm its intention to select Vodafone as its preferred global supplier of mobile communications, excluding the U.S.

-Vodafone is additionally discussing the supply of Unified Communications to BAE Systems in the U.K.

-Partnership also provides a framework for both companies to explore a broader range of joint security products for other business areas including interconnected devices using machine to machine (M2M) technology.

-Vodafone shares closed Friday at 168 pence valuing the company at 82.12 billion pounds; BAE shares closed 329 pence valuing the company at GBP10.69 billion.

-Write to Ian Walker at ian.walker@dowjones.com

Corrections & Amplifications

This story was corrected at 0847 GMT. The original misstated the market capitalizations of the two companies in the final Main Fact. Vodafone is valued at 82.12 billion pounds, not million, and BAE is valued at GBP10.69 billion.

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Stocks mentioned in the article : BAE Systems plc, Vodafone Group plc
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