Verizon’s plan also boosted shares of Vicinity Corp. (Nasdaq: VCNT), which gained 7 5/8 to 27 1/4 Monday. Verizon will use Vicinity products to provide Internet phone users with access to information on retailers, restaurants and map information.
The telecommunications company will also use Vicinity’s map service, which provides door-to-door driving directions, and BrandFinder, which supplies lists of top brands for various categories, like food and banks, then searches for the closest retail location. Vicinity plans to update the service by including detailed information about brick-and-mortar locations, such as providing a list of McDonald’s restaurants with playgrounds or the last pick-up time at a particular Federal Express location.
“Web-enabled digital phone users are demanding a comprehensive and meaningful wireless Internet experience,” said Vicinity President and Chief Executive Officer Emerick Woods.
The Palo Alto, California-based Vicinity provides Internet-based marketing services for about 350 global companies.