Japan’s NTT DoCoMo doesn’t want to settle for the existing 35% stake of PacketVideo, which it acquired in July 2009. The operator, Japan’s largest, has announced an agreement with NextWave Wireless to acquire the remaining 65% equity interest in the company for $111.6 million. As a result, PacketVideo will effectively be turned into a wholly owned subsidiary of DoCoMo.
The new acquisition is a subject to customary closing conditions and is expected to close during the calendar quarter ending September 30, 2010.
DoCoMo’s plan is to create synergies with PacketVideo for “enhanced media services,” including some sort of services that allow users to easily link their mobile phones with home electronic devices to remotely enjoy and share content. Sounds interesting, though we don’t have all the details at the moment…
And in case you don’t know, PacketVideo is a developer of mobile phone-based multimedia software and media service platforms. Its customers include major operators like Verizon Wireless, Orange, T-Mobile, Rogers, TELUS and others.
[Via: CellularNews]