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Japanese firm takes Blue Ocean stake

Japanese mobile company NTT DoCoMo is to buy an 11.5% stake in Dublin-based company Blue Ocean Wireless.

Blue Ocean, set up in 2007, is involved in technology which allows mobile communications at sea.

The Japanese company's $10m (€7.2m) investment values the Dublin firm at $87m (€62.4m).

A subsidiary of NTT DoCoMo, Smart Communications, is already a shareholder in Blue Ocean. Other significant shareholders include Dublin private equity firm Claret Capital, Irish communications firm Altobridge and Bank of Scotland (Ireland).