Japan's NTT DoCoMo to buy US video software firm
Japanese mobile phone giant NTT DoCoMo said Monday it was spending 111.6 million dollars to take over a US video software firm and beef up its multimedia services.
DoCoMo will purchase the remaining 65 percent equity interest in PacketVideo Corp. after last year buying a 35-percent stake in the California company from NextWave Wireless Inc.
The acquisition comes as DoCoMo, which sees falling revenues from voice telephone calls, aims to expand its video services for next-generation high-speed mobile services.
"DoCoMo aims to create synergies with PacketVideo for enhanced media services, including the creation of an all-new domain of services that allow users to easily link their mobile handsets with home electronic devices to remotely enjoy and share content," it said in a statement.
The company expects to finish the deal by the end of this year.
(c) 2010 AFP