RealNetworks Announces Acquisition of WiderThan at CTIA

September 12th, 2006 |

 
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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.

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