DoCoMo invests $45mln for a 35% stake in PacketVideo
Monday, July 6th, 2009
NTT DOCOMO, the world’s leading mobile operator and provider of advanced mobile services, announced in a press release issued on July 5th that it has acquired 35% in the California based PacketVideo for a price of $45.5mln. The strategic partnership will enable DOCOMO to strengthen its position and enhance its music and video offerings in Japan. Through this alliance, DOCOMO will also ensure a stable supply of advanced mobile applications technologies according to Toshio Miki, Associate Senior Vice President, Managing Director of Communication Device Development Department for NTT DOCOMO: “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 added: “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.”
The two companies have enjoyed a successful partnership since 1998. Since then, PacketVideo’s technologies have been incorporated in multimedia applications for DOCOMO’s FOMA ™ 3G mobile network services. In addition, PacketVideo’s popular CORE ™ multimedia player, pvPlayer, has been installed in more than 90 DOCOMO handset models.