Japanese mobile-phone operator NTT DoCoMo will pay $111.6 million to buy the rest of shares of wireless software company PacketVideo.
Japanese mobile-phone operator NTT DoCoMo will pay $111.6 million to buy the rest of shares of wireless software company PacketVideo. According to company statement NTT DOCOMO has reached an agreement with NextWave Wireless Inc. to acquire the remaining 65 percent equity interest in PacketVideo, turning PacketVideo into a wholly owned subsidiary of DOCOMO.
DOCOMO had acquired a 35-percent stake in PacketVideo from NextWave in July 2009. The company 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.
The Japanese operator already uses PacketVideo’s technology and expects the purchase to help develop services for faster, more efficient Long Term Evolution, or LTE, according to DoCoMo spokeswoman Makiko Furuta, reports Bloomberg.
PacketVideo provides solutions that allow users to share pictures, music and videos among PCs, mobile phones and consumer electronic devices such as TVs, digital picture frames and audio equipment.