SOURCE: PacketVideo

PacketVideo

October 08, 2010 14:10 ET

DOCOMO Finalizes Acquisition of PacketVideo Shares

SAN DIEGO, CA--(Marketwire - October 8, 2010) - PACKETVIDEO CORPORATION (PacketVideo), creator of tailored multimedia experiences, announced that NTT DOCOMO, INC. (TSE: 9437) (LSE: NDCM) (NYSE: DCM), one of the world's largest and most advanced mobile operators, has completed its acquisition of the remaining shares of PacketVideo previously held by NextWave Wireless Inc. (OTCQB: WAVE) and valued at $111.6 million (USD). DOCOMO previously acquired 35 percent of PacketVideo in July 2009.

PacketVideo is now a wholly owned subsidiary of NTT DOCOMO and will operate as an autonomous operation with its own board of directors under the leadership of founder, President and CEO Dr. James Brailean.

"We're excited to start this new chapter with DOCOMO and leverage its investment to continue strengthening our leadership in powering interactive media experiences for consumers -- both through our Twonky products as well as through our work with major mobile carriers worldwide," said Brailean.

"As a long-time partner of PacketVideo, we're looking forward to working even more closely with the company and finding new ways to leverage its market-leading mobile entertainment technology to continue to enhance our offerings in Japan," said Kiyohito Nagata, senior vice president of NTT DOCOMO.

About PV: Founded in 1998, PacketVideo is the software pioneer powering the world's leading multimedia services on millions of home and mobile devices. For more information, visit www.pv.com.

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