TAIPEI, Taiwan, Aug. 17, 2012 /PRNewswire-Asia/ -- GigaMedia
Limited (NASDAQ: GIGM) announced today a strategic partnership and
licensing agreement with Neowiz Co. Ltd granting GigaMedia rights
to offer and operate multiple Web-based casual games in
Taiwan, Hong Kong, and Southeast Asia.
Neowiz is a global leader in online games with a broad lineup of
hits including A.V.A., which GigaMedia operates in
Taiwan.
The strategic partnership and licensing agreement for Web-based
and mobile casual games takes advantage of strong global growth
trends in "light" games on social and mobile platforms, and
positions GigaMedia to scale its games business across new
platforms.
"We have great respect for the Neowiz team from working closely
on A.V.A. and are delighted to join with them to expand our
business," stated GigaMedia Chief Executive Officer John Stringer. "As we execute our growth plans
for Web-based and mobile casual games, we look forward to continued
close cooperation and the full support of a strong partner that
believes in our strategy and shares in our goals."
"Today people want Web-based games they can play through their
browsers and on their phones," stated Mr. Young-Chan Kim, director, Neowiz Mobile. "It's a
pleasure to provide GigaMedia with this great collection of
Web-games; we can't wait to see how they leverage them across
platforms."
Under the terms of the agreement, GigaMedia licensed from Neowiz
four games and secured additional game rights for Taiwan, Hong
Kong, and Southeast
Asia.
As part of the transaction, GigaMedia received cash
consideration from Neowiz in exchange for a portion of GigaMedia's
interest in a game studio holding.
Further details will be provided on the company's second-quarter
results investor call on August 23,
2012.
About GigaMedia
GigaMedia Limited (Singapore
registration number: 199905474H) is a Taiwan-based holding company. GigaMedia's
online games business is focused on developing and operating
Web-based/mobile games in emerging markets. The company's cloud
computing business is focused on providing critical communications
services and IT solutions that increase flexibility, efficiency and
competitiveness to SMEs in Greater
China. More information on GigaMedia can be obtained from
www.gigamedia.com.
About Neowiz
Neowiz is a leading Internet and online game company in
South Korea. Founded in 1997,
Neowiz pioneered the development of in-game monetization and SNS.
Today the company develops and publishes online games and has over
40 online game titles in service. More information about the
company can be found at www.neowiz.com/en/.
The statements included above and elsewhere in this press
release that are not historical in nature are "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. GigaMedia
cautions readers that forward-looking statements are based on the
company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those
contained in such forward-looking statements. Information as to
certain factors that could cause actual results to vary can be
found in GigaMedia's Annual Report on Form 20-F filed with the
United States Securities and Exchange Commission in April 2012.
For further information contact:
Brad Miller, Investor
Relations Director
+886-2-2656-8016
Brad.Miller@GigaMedia.com
SOURCE GigaMedia Limited