Japanese mobile operator to buyrest of US firm
Source: Agencies |
August 3, 2010, Tuesday
|
Print Edition
Print Edition
JAPAN'S largest mobile phone operator, NTT DoCoMo Inc, is to spend US$111.6 million to acquire the rest of PacketVideo Corp, a mobile technology company.
The Japanese carrier said it will purchase 65 percent of San Diego, California-based PacketVideo pending approval from its parent firm, NextWave Wireless Inc, and United States regulators.
DoCoMo, which acquired a 35 percent share in 2009 for US$45.5 million, uses PacketVideo's multimedia players in its handsets.
In Japan, the major carriers traditionally maintain strict control of the software that goes into the mobile phones used on their networks, although this is gradually changing with the popularity of high-end phones like Apple's iPhone and others that run on Google's Android operating system.
PacketVideo's multimedia software is also used in other handsets worldwide.
Parent company NextWave is struggling with deep losses and facing a possible share delisting from the Nasdaq stock exchange.
The Japanese carrier said it will purchase 65 percent of San Diego, California-based PacketVideo pending approval from its parent firm, NextWave Wireless Inc, and United States regulators.
DoCoMo, which acquired a 35 percent share in 2009 for US$45.5 million, uses PacketVideo's multimedia players in its handsets.
In Japan, the major carriers traditionally maintain strict control of the software that goes into the mobile phones used on their networks, although this is gradually changing with the popularity of high-end phones like Apple's iPhone and others that run on Google's Android operating system.
PacketVideo's multimedia software is also used in other handsets worldwide.
Parent company NextWave is struggling with deep losses and facing a possible share delisting from the Nasdaq stock exchange.
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