Monday, July 6, 2009
Nextwave Wireless Gets Investment From DOCOMO
San Diego-based NextWave Wireless, a developer of embedded multimedia software for the mobile market, said this morning that DOCOMO has acquired 35 percent of the firm's PacketVideo subsidiary, for $45.5M. In addition, NextWave Wireless said that it has received $15M in funding, in the form of Senior-Subordinated Secured Second Lien Notes from Avenue Capital Management II. NextWave Wireless said that DOCOMO has also received certain rights around future transfers of PacketVideo stock, issuance of PacketVideo stock, and a call option which can be exercised under certain conditions to purchase the remaining shares of PacketVideo at an appraised value. PacketVideo develops mobile software for displaying video and other media on cell phones. DOCOMO is Japan's largest mobile phone operator.