Motorola Mobility To Buy Dreampark

Motorola Mobility Inc (NYSE: MMI) reported that it has entered into a definitive agreement to buy Dreampark, a leading IPTV software provider based in Norrkoping, Sweden.

The transaction is likely to close in the second quarter of 2011. Terms of the deal were not disclosed.

"This transaction enables us to continue to enhance our Medios software portfolio and capitalize upon the convergence of wireless technology, media, mobile computing and the Internet," said John Burke, senior vice president and general manager of Motorola Mobility's Converged Experiences business. "With the acquisition of Dreampark, Motorola Mobility will strengthen its ability to provide systems integrators, service providers, enterprises and content providers with innovative solutions for deploying converged media experiences. It's great to have the Dreampark team on board."

MMI shares gained 0.27% to close at $25.62 yesterday.

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