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| Monday, 6 July 2009, 14:05 HKT/SGT | |
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Source: NTT DOCOMO | |
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TOKYO, July 6, 2009 - (ACN Newswire) - NTT DOCOMO, INC. (TSE: 9437; LSE: NDCM; NYSE: DCM) and San Diego, California-based PacketVideo Corporation, a subsidiary of NextWave Wireless Inc. (NASDAQ: WAVE) and a pioneer in wireless and digital home multimedia software and service applications, today announced that DOCOMO has acquired a 35-percent stake in PacketVideo for $45.5 million. The all-cash transaction, effective immediately, is intended to strengthen DOCOMO's position in advanced music and video services in Japan.
The companies have enjoyed a productive partnership since 1998, enabling PacketVideo's technologies to be incorporated in multimedia applications for DOCOMO's FOMA 3G mobile network services. To date, PacketVideo's popular CORE multimedia player, pvPlayer, has been installed in more than 90 DOCOMO handset models.
The strategic alliance will enable DOCOMO to enhance its music and video service offerings while augmenting the competitiveness of both companies. In particular, the strengthened partnership will facilitate the efficient joint development of PacketVideo's new technologies, ensuring a stable supply of increasingly advanced mobile applications technologies to DOCOMO.
Toshio Miki, Associate Senior Vice President, Managing Director of Communication Device Development Department for NTT DOCOMO, said: "PacketVideo has been a key supplier of software to DOCOMO and has made important contributions to the success of our services in the Japanese market. We are pleased to become an equity partner of PacketVideo and are very confident of the company's continued growth and long-term success."
James Brailean, Ph.D., CEO of PacketVideo said: "We are honored to welcome DOCOMO as an investor. 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."
About PacketVideo
Founded in 1998, PacketVideo is the software pioneer powering the world's leading multimedia services on millions of home and mobile devices. PacketVideo is a subsidiary of NextWave Wireless Inc. (NASDAQ: WAVE).
PacketVideo
Note Regarding Forward-Looking Statements: This press release contains "forward-looking statements" for purposes of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual events or results could differ materially from the events or results predicted or from any other forward-looking statements made by, or on behalf of, PacketVideo, and should not be considered as an indication of future events or results. Important factors that could cause actual events or results to differ materially are described in filings of our parent company, NextWave Wireless Inc. (NASDAQ: WAVE) with the Securities and Exchange Commission. All such documents are available through the SEC's website at www.sec.gov. PacketVideo and NextWave Wireless Inc. make no commitment to revise or update any forward-looking statements in order to reflect changes in events or circumstances after the date any such statement is made, except as may be required pursuant to applicable law.
Contact:
International PR
Public Relations Department
NTT DOCOMO, INC.
Tel: 81-3-5156-1366
Fax: 81-3-5501-3408
website: http://www.nttdocomo.com
Topic: Corporate Announcement
Source: NTT DOCOMO
Sectors: Wireless, Apps
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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