PacketVideo, the San Diego-based mobile video and software company that has been around since 1998, has sold about 35 percent stake in the company to Japanese mobile giant DoCoMo (NYSE: DCM). The firm is part of NextWave Wireless. The all-cash deal is intended to “strengthen DoCoMo’s position in advanced music and video services in Japan,” it said in the release.

The two companies have been working together since PV’s start: PV’s COR multimedia player, pvPlayer, has been installed in more than 90 DoCoMo handset models since 1998. PacketVideo has also been working on the Google Android (it provides OpenCore, the multimedia subsystem in Android) and Apple iPhone platform, it has previously announced; it has developed a live video broadcasting tech that can be added to the existing mobile platforms.

Nextwave (NSDQ: WAVE), meanwhile, is in the middle of a comprehensive reorg and is focusing solely on PV going ahead; it announced that in May. It is still trying to sell off the remaining spectrum it owns, after selling off some part to T-Mobile and others last year. This new deal also explains the uptick in NextWave’s stock run since the announcement in May and especially last month.

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