NTT DoCoMo has bought 35% in PacketVideo, a NextWave Wireless subsidiary for $45.5 million in cash earlier this week.  Over the last 10 years, DoCoMo and PacketVideo have been partners on mobile multimedia solutions.  PacketVideo plans to use the investment to advance their music and video technology.

“We are building on our unique and highly successful relationship with DoCoMo to further strengthen PacketVideo’s position in developing the best in class media experience, regardless of format or platform,” stated PacketVideo CEO James Brailean.  The PacketVideo CORE multimedia pvPlayer has been integrated into 90 DoCoMo phones since 1998.

[via InformationWeek]