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SINGAPORE -
DMX Technologies said on Thursday that Japanese telecom firm KDDI will pay S$183.1 million ($128.6 million) for a 50.1 percent stake in the Singapore firm via a placement of new shares.
KDDI, Japan's second largest telco, does not plan to make an offer for the remaining shares in DMX and will seek regulatory approval for a waiver.
DMX, an IT systems developer, owns a suite of proprietary multimedia software used in the delivery of video and other multimedia content over the Internet and mobile phones.
(Reporting by Kevin Lim, Editing by Ian Geoghegan)
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