NTT DOCOMO to Acquire PacketVideo Corporation
TOKYO, JAPAN --- NTT DOCOMO, INC. announced today that it has reached an agreement with NextWave Wireless Inc. to acquire the remaining 65 percent equity interest in PacketVideo Corporation, a subsidiary of NextWave Wireless Inc., for US$111.6 million, turning PacketVideo into a wholly owned subsidiary of DOCOMO.
DOCOMO acquired a 35-percent stake in PacketVideo from NextWave in July 2009. The new acquisition is subject to customary closing conditions, including clearance by certain U.S. regulatory authorities and the approval of NextWave’s shareholders. The transaction is expected to close during the calendar quarter ending September 30, 2010.
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.
PacketVideo is a market leader in mobile phone-based multimedia software and media service platforms that have been widely adopted by mobile operators and device manufacturers in North America, Europe and Asia. The company also provides solutions that allow users to share pictures, music and videos among PCs, mobile phones and consumer electronic devices such as TVs, digital picture frames and audio equipment.
About NTT DOCOMO
NTT DOCOMO is the world’s leading mobile operator and provider of advanced mobile services. The company serves over 56 million customers in Japan, including 49 million using i-mode™, the world’s most popular mobile e-mail/Internet platform, and 54 million using FOMA™, the world’s original 3G mobile service based on W-CDMA. As a leader in the development of cutting-edge mobile technologies, DOCOMO is continually expanding the role of mobile phones as versatile and highly personalized “lifestyle tools” for everyday life, including with a wide range of innovative services for mobile payments, GPS, mobile TV, multimedia content and much more. NTT DOCOMO is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com.
FOMA and i-mode are trademarks or registered trademarks of NTT DOCOMO, INC. in Japan and/or other countries.
FOMA service is only available in Japan.
NextWave Wireless Inc. will file a proxy statement with the Securities and Exchange Commission (the “SEC”) regarding the proposed transaction. NEXTWAVE STOCKHOLDERS ARE ADVISED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
NextWave stockholders may obtain free copies of the proxy statement and other documents filed by NextWave (when available), at the SEC’s Web site at www.sec.gov or at NextWave’s Web site at www.nextwave.com. The proxy statement and such other documents may also be obtained for free, when they become available from NextWave, by directing such request to Investor Relations, NextWave Wireless Inc., 12264 El Camino Real, Suite 305, San Diego, California 92130, telephone: 858-731-5300.
NextWave and its directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from NextWave’s stockholders in connection with the proposed transaction. Information concerning the interests of those persons is set forth in NextWave’s proxy statement relating to the 2010 annual meeting of stockholders and annual report on Form 10-K for the fiscal year ended January 2, 2010, both filed with the SEC, and will also be set forth in the proxy statement relating to the transaction when it becomes available.
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