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)