Mergers and Acquistions News
Categories: Media & Information Services, Telecoms
August 2nd 2010, 16:54PM
Japanese mobile phone operator NTT DoCoMo Inc will acquire PacketVideo Corporation for $111.6 million (£70.5 million).
DoCoMo will acquire the remaining 65 per cent of the firm from NextWave Wireless Inc.
The operator acquired the initial 35 per cent stake in July of last year. On completion of the acquisition the Japan firm will fully own PacketVideo.
DoCoMo hopes to create an organised relationship with PacketVideo for "enhanced media services, including the creation of an all-new domain of services that allow users to easily link their mobile handsets with home electronic devices to remotely enjoy and share content".
PacketVideo is based in San Diego, California, and was founded in 1998. It makes multimedia software and media platforms for mobile phones.
The firm has a global reach. Operators from across north America, Europe and Asia have all utilised the company's systems.
The company also provides technology that enables users to share data, be it pictures, music or video, across computers, mobiles and TVs.
The transaction is expected to close during September this year.
According to Reuters, PacketVideo counts Verizon Wireless and Orange as customers.
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