DoCoMo Aquires PacketVideo

DoCoMo just announced that it has acquired the remaining 65% interest in PacketVideo for $111 million, PR in Eng: http://bit.ly/aTrCn7

NTT DOCOMO, INC. announced today that it has reached an agreement with NextWave Wireless Inc. to acquire the remaining 65 percent equity interest in PacketVideo Corporation, a subsidiary of NextWave Wireless Inc., for US$111.6 million, turning PacketVideo into a wholly owned subsidiary of DOCOMO.

DOCOMO acquired a 35-percent stake in PacketVideo from NextWave in July 2009. The new acquisition is subject to customary closing conditions, including clearance by certain U.S. regulatory authorities and the approval of NextWave’s shareholders. The transaction is expected to close during the calendar quarter ending September 30, 2010.

DOCOMO aims to create synergies 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.

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DoCoMo Aquires PacketVideo