NTT DOCOMO has announced that it has acquired a 35% stake in PacketVideo for $45.5m. NTT DOCOMO is a Japanese mobile voice, data and multimedia services provider. California-based PacketVideo, a subsidiary of NextWave Wireless, is a provider of wireless and digital home multimedia software and service applications.
The companies claim that the all-cash transaction, effective immediately, is intended to strengthen DOCOMO’s position in music and video services in Japan.
The companies are in partnership since 1998, enabling PacketVideo’s technologies to be incorporated in multimedia applications for DOCOMO’s FOMA 3G mobile network services.
According to the companies, the strategic alliance will enable DOCOMO to enhance its music and video service offerings, and facilitate the joint development of PacketVideo’s new technologies, ensuring a supply of mobile applications technologies to DOCOMO.
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James Brailean, CEO of PacketVideo, said: 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.
