RealNetworks is staking a bigger claim in the wireless entertainment space with a $350 million acquisition of WiderThan, a South Korean-based developer. RealNetworks said it will acquire WiderThan for $17.05 per share. WiderThan offers ringback tones, on-demand music and other entertainment services to more than 50 operators around the world. RealNetwork's cited these statistics as rationalization for its purchase: Together, ringback tones and Music-on-Demand constitute key emerging services in a mobile entertainment market, which according to Juniper Research will grow from $15 billion in 2005 to $38 billion in 2009, a compound annual growth rate of 25 percent.
To read more about RealNetworks' purchase of WiderThan:
- check out this release