PacketVideo makes software for viewing video on your mobile handset, and they just became $45.5 million richer after Japanese operator NTT DOCOMO purchased a 35% stake in the company. NTT DOCOMO has already shipped 90 handsets with their software on board; now as an investor, they may have their say into the future direction of the company and a reduction on royalty fees.
Toshio Miki, Associate Senior Vice President, Managing Director of Communication Device Development Department for NTT DOCOMO, said: “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. We are pleased to become an equity partner of PacketVideo and are very confident of the company’s continued growth and long-term success.”
James Brailean, Ph.D., CEO of PacketVideo said: “We are honored to welcome DOCOMO as an investor. 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. PacketVideo is the global leader in delivering rich media solutions for mobile operators, and DOCOMO’s support will enable us to accelerate our innovation and growth.”
For what it’s worth: PacketVideo is also a member of the Open Handset Alliance
[Via: NTT DOCOMO and NewTeeVee]