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LONDON – Vodafone Group PLC, the world's biggest mobile phone provider by sales, said Tuesday it has offered to buy Swedish wireless navigation device company Wayfinder Systems for 239 million Swedish kronor ($29 million) in cash.

Vodafone's offer of 12 kronor per share represents a 253 percent premium to Monday's closing share price of 3.4 kronor.

Pieter Knook, Vodafone's director of internet services, said the deal would enable Vodafone to give its customers Wayfinder technology on their mobile phones.

"The Wayfinder software enables mobile phones to display user-friendly maps as well as deliver voice directions to drivers," he said. "We believe our customers will greatly value being able to get accurate voice directions from their mobiles."

The mobile phone giant said Wayfinder's board had unanimously recommended that shareholders accept the offer, and that Wayfinder shareholders controlling around 45 percent of shares had already agreed to sell their shares to Vodafone.

To secure the purchase, Vodafone said Wayfinder shareholders must offer to sell it at least 90 percent of the total shares, which it expects to happen by early next year.

Because the offer is public, it is not subject to a shareholder vote.

Vodafone's shares dipped 1.6 percent to 133 pence ($1.97) in early trading on the London Stock Exchange

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