NTT DoCoMo Inc. has purchased remaining interest in PacketVideo Corp. to gain full control of the mobile software development company from NextWave Wireless Inc. (WAVE). The Japanese company acquired a 35% stake in PacketVideo for $45.5 million barely a year ago to jointly develop new technology for mobile applications.
The remaining majority stake will be sold to NTT DoCoMo for $111.6 million, NextWave announced. Later this quarter when the deal is expected to close, the full price for PacketVideo would stand at $157.1 million. With proceeds from this latest transaction, NextWave plans to pay down $95 million in debt and retain $12.5 million in working capital.
NTT DoCoMo acquires remaining stake in PacketVideo
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Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants