Perhaps this mobile broadband stuff is more real than some reports have suggested. NTT DoCoMo (NYSE: DCM), which is nothing if not big, has decided to spend some pocket change--$111.6 million--to acquire the remaining 65 percent of PacketVideo it doesn’t already own from NextWave Wireless (Other OTC: WAVE.PK).
According to reports and a news release issued by NTT DoCoMo, the acquisition will further open the U.S. markets for Japan’s largest mobile phone operator with new LTE wireless technology.
NTT DoCoMo has already announced plans to begin services in Japan using computer cards technology that rivals fiber optic cable while simultaneously making more efficient use of wireless spectrum. PacketVideo, which was acquired by NextWave in 2005, designed and powers the DoCoMo iMotion video software player. It’s also an original member of Google’s Open Handset Alliance and provides multimedia capabilities to Android handsets.
- see this news release
NextWave sells entire PacketVideo stake to NTT DoCoMo; FCC approves first US LTE handset