Location-based services developer uLocate Communications announced its acquisition of the Buddy Beacon friend-finder brand from struggling MVNO Helio. Financial terms were not disclosed. Introduced by Helio in partnership with uLocate in 2006, Buddy Beacon leverages location-based technology to enable users to share their location with personal contacts via mobile device--per terms of the deal, uLocate and Helio will continue to collaborate on improving and expanding the service.

For more on the uLocate/Helio deal:
- read this release [1]

Related articles:
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SK Telecom gains control of Helio [3]
SK Telecom pumps another $270 million into Helio [4]