RealNetworks Announces Acquisition of WiderThan at CTIA
Synergy and convergence were just two of the themes echoed today during the CTIA expo at the Los Angeles Convention Center as RealNetworks announced a deal to acquire WiderThan for $350 million, or $17.05 per share. The tender offer, which is expected to be completed during the first quarter of 2007, compliments RealNetworks streaming audio and video applications and Rhapsody music service with a rich spectrum of content including ringback tones and music-on-demand services. It also provides the company with a much-needed foothold in the exploding Asia market. RealNetwork’s John J. Giamatteo spoke about the acquisition following an analyst call.