NTT DoCoMo has agreed to pay $10 million to buy an 11.5% stake in 18-month-old Blue Ocean Wireless.
The Ireland-based company provides GSM service connectivity for ships using satellite antennas, GSM base stations and conversion devices.
The company already has signed up 100 ships for its mobile phone service. CEO Robert Johnson said the company will break even when it signs up 1,000 ships, a goal it hopes to reach by the end of next year. The company is projecting $3 million in revenue this year and $6 million in 2009.
NTT DoCoMo appointed Mitsuo Yamamoto, executive director of its global business, to Blue Ocean Wireless’ board.