YOU ARE AT:WirelessNTT DoCoMo acquires remaining stake in PacketVideo

NTT DoCoMo acquires remaining stake in PacketVideo

Matt Kapko
By Matt Kapko
Wireless

NTT DoCoMo Inc. has purchased remaining interest in PacketVideo Corp. to gain full control of the mobile software development company from NextWave Wireless Inc. (WAVE). The Japanese company acquired a 35% stake in PacketVideo for $45.5 million barely a year ago to jointly develop new technology for mobile applications.
The remaining majority stake will be sold to NTT DoCoMo for $111.6 million, NextWave announced. Later this quarter when the deal is expected to close, the full price for PacketVideo would stand at $157.1 million. With proceeds from this latest transaction, NextWave plans to pay down $95 million in debt and retain $12.5 million in working capital.

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ABOUT AUTHOR

Matt Kapko
Matt Kapko
Former Feature writer for RCR Wireless NewsCurrently writing for CIOhttp://www.CIO.com/ Matt Kapko specializes in the convergence of social media, mobility, digital marketing and technology. As a senior writer at CIO.com, Matt covers social media and enterprise collaboration. Matt is a former editor and reporter for ClickZ, RCR Wireless News, paidContent and mocoNews, iMedia Connection, Bay City News Service, the Half Moon Bay Review, and several other Web and print publications. Matt lives in a nearly century-old craftsman in Long Beach, Calif. He enjoys traveling and hitting the road with his wife, going to shows, rooting for the 49ers, gardening and reading.

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