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Korea M&A Corporation
DoCoMo acquires PacketVideo stake for $45.5 million 본문
Japanese mobile operator aims to strengthen music, video services offering with 35% share in NextWave subsidiary.
NTT DoCoMo on Monday announced that it has acquired a 35% stake in wireless multimedia software firm PacketWave for $45.5 million.
The Japanese mobile operator said it has been incorporating a number of PacketVideo's technologies into multimedia applications available via its FOMA 3G service since the companies first partnered in 1998, while PacketVideo's multimedia pvPlayer has been installed in more than 90 DoCoMo handset models to date.
"PacketVideo has been a key supplier of software to DoCoMo and has made important contributions to the success of our services in the Japanese Market," said Toshio Miki, associate vice president and managing director of device development at DoCoMo, in a statement.
DoCoMo said the deal to acquire a 35% stake in PacketVideo – a subsidiary of NextWave Wireless – is aimed at further strengthen its position in the mobile music and video services market.
Under the terms of the agreement the two companies will jointly develop new PacketVideo technologies which will give DoCoMo the ability to roll out a steady number of new and increasingly advanced mobile applications.
"We are building on our unique and highly successful relationship with DoCoMo to further strengthen PacketVideo's position in developing the best in class media experience, regardless of format or platform," said James Brailean, CEO of PacketVideo.
This latest acquisition follows an earlier deal in April which saw DoCoMo buy a 51% stake in TV shopping company Oak Lawn Marketing.
The Japanese operator said in the same month following a 70% on-year decline in fourth quarter net profit that it would focus on investment in order to meet medium-term business goals.
"It's time to load up on ammunition, so to speak," said DoCoMo's president Ryuji Yamada, in reports at the time.
DoCoMo will report its financial results for the three months ending 30 June on 30 July.
Source from totaltele.com