Japanese mobile operator NTT Docomo is to buy the remaining 65% stake it does not already own in US wireless software company PacketVideo Corporation for US$116m.
In July 2009, the Japanese buyer acquired 35% of PacketVideo, a subsidiary of NextWave…
Japanese mobile operator NTT Docomo is to buy the remaining 65% stake it does not already own in US wireless software company PacketVideo Corporation for US$116m.
In July 2009, the Japanese buyer acquired 35% of PacketVideo, a subsidiary of NextWave Wireless Inc, for US$45.5m.
In a statement, NTT DoCoMo said it aimed to create synergies with PacketVideo for enhanced media services, such as the creation of services that allow users to link their mobile handsets with home electronic devices.
Upon completion of the deal, which is expected in the quarter ending 30 September, PacketVideo will become a wholly-owned subsidiary of NTT Docomo. The new acquisition is subject to customary closing conditions, including clearance by US regulatory authorities and the approval of NextWave’s shareholders.
When contacted, the company declined to comment on the banks involved in the deal as well as the target’s performance.
