Monday, September 11, 2006

RealNetworks to Acquire WiderThan -- a Ringtone Provider -- for $350 Million

RealNetworks will acquire WiderThan, a leading provider of integrated mobile music and entertainment solutions, through a cash tender offer for $17.05 per share or approximately $350 million.

WiderThan is a leading provider of ringback tones, music-on-demand and other mobile entertainment services to more than 50 wireless carriers in more than 25 countries including leading carriers such as SK Telecom in South Korea, Verizon Wireless in the U.S., and Bharti Airtel in India.

For the six months ended June 30, 2006, WiderThan achieved $61.9 million in revenue, an increase of 39% over the same period in 2005.

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