Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - NextWave Wireless Inc. | mm07-3010_8k.htm |
| EX-99.1 - EX.99.1 - NW PRESS RELEASE - NextWave Wireless Inc. | mm07-3010_8ke9901.htm |
| EX-2.1 - EX.2.1 - STOCK PURCHASE AGREEMENT - NextWave Wireless Inc. | mm07-3010_8ke0201.htm |
EXHIBIT 99.2
NEWS
FOR IMMEDIATE RELEASE
DOCOMO to Acquire Shares in PacketVideo from NextWave
Wireless
SAN
DIEGO – August 1, 2010 – PacketVideo Corporation, a pioneer in multimedia
services, today announced that NTT DOCOMO, INC. (TSE:9437; LSE: NDCM; NYSE:DCM),
one of the world’s largest and most advanced mobile operators, will acquire the
remaining shares of PacketVideo held by NextWave
Wireless Inc. (OTCQB:
WAVE).
The transaction follows DOCOMO’s acquisition of 35 percent
of PacketVideo in July 2009. Under the terms of the agreement, DOCOMO will
acquire NextWave’s
remaining interest in PacketVideo for $111.6 million (USD). PacketVideo will
become 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 and
longtime President and CEO, Dr. James Brailean. PacketVideo will continue to
support all of its worldwide customers, with the majority of its business coming
from outside of Japan.
“DOCOMO has been a strong partner and customer of
PacketVideo since the very beginning of the company,” said Brailean. “We are
pleased that DOCOMO, which is known throughout the world for innovation, has
provided such a strong endorsement of our products, our strategy and our
technology. PacketVideo sits at the center of the media convergence revolution,
and we plan to use this transaction to further accelerate our
business.”
“We are delighted to have the opportunity to extend our
longstanding partnership with PacketVideo,” said Kiyohito Nagata, Senior Vice
President, NTT DOCOMO. “We have enjoyed a productive partnership since 1998,
with the company’s industry-leading multimedia software solutions shipping in
more than 100 DOCOMO handset models. Our strategic relationship with PacketVideo
further strengthens DOCOMO’s position in music and video services in Japan,
including the creation of an all-new domain of services that allow users to
easily link their mobile handsets with home electronic devices to enjoy and
share content.”
# # #
About PacketVideo
Founded in 1998, PacketVideo is the software pioneer
powering the world’s leading multimedia services on millions of home and mobile
devices. PacketVideo is known for multimedia services built for
wireless operators. In addition, PacketVideo’s Twonky consumer brand is widely
regarded as the leader in software for media discovery, enjoyment and sharing in
the connected home. For more information, visit www.pv.com.
Note
Regarding Forward-Looking Statements: This press release contains
"forward-looking statements" for purposes of the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainties. There can be no
assurances that forward-looking statements will be achieved, and actual events
or results could differ materially from the events or results predicted by such
statements. Important factors
that could cause actual events or results to differ materially are discussed in
greater detail in the filings of NextWave with the Securities and Exchange
Commission. All such documents are available through the SEC’s website at
www.sec.gov. PacketVideo
makes no commitment to update any forward-looking statements in order to reflect
subsequent changes in events or circumstances except as may be required pursuant
to applicable law.
NextWave 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.
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.
Contact:
Jeff Seedman
Ruder Finn for PacketVideo
(415) 249-6763
seedmanj@ruderfinn.com