Tuesday, September 12, 2006

RealNetworks Buys WiderThan For $350M

Seattle-based RealNetworks has acquired WiderThan, a provider of ringtones and other mobile entertainment, for $350M. The cash offer is worth $17.05 for every share of WiderThan, which is listed on the Nasdaq as WTHN. WiderThan provides its services to carriers like SK Telecom, Verizon Wireless, and Bharti Airtel. RealNetworks said that WiderThan reported $61.9M in revenue for the first six months of 2006. WiderThan is based in Seoul, South Korea.