DoCoMo Buys Stake in Mobile Video Vendor

Japan's NTT DoCoMo has acquired a 35-percent stake in US based PacketVideo for US$45.5 million. The company, a subsidiary of NextWave Wireless is a developer of mobile video services. To date, ­PacketVideo's popular CORE multimedia player, pvPlayer, has been installed in more than 90 DoCoMo handset models.

DoCoMo said that 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 the mobile network operator.

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."

Posted to the site on 6th July 2009