TAIPEI, Taiwan, Dec. 11 /Xinhua-PRNewswire-FirstCall/ -- GigaMedia
Limited ("GigaMedia" or the "Company") (Nasdaq: GIGM) announced today a
strategic partnership with and investment in hot game development studio
XLGames Inc. ("XLGames").
XL Games is founded by gaming legend Jake Song, renowned as the creator
of The Kingdom of the Winds -- one of the world's first MMORPGs, and
Lineage -- the most popular online game franchise in history. The company
enjoys a senior management team with deep industry experience and
outstanding talent, and plans to develop games that will define leadership
of the next generation of online games.
"Jake Song and his team are superstars -- some of the world's greatest
game developers," stated GigaMedia President Thomas Hui. "We are thrilled
to partner with such a tremendously talented team and look forward to
working closely with them on their new MMORPG, which should rock the
"GigaMedia is an unrivaled gateway to Asia -- a great partner and
platform for us to showcase world-class, epic entertainment," stated Chief
Executive Officer Jake Song of XLGames. "With GigaMedia's game expertise
and huge pan- Asian platform, we look forward to a highly successful
The investment in XLGames is the latest step in GigaMedia's plan to
build the region's leading online entertainment platform, with a scope that
spans all of Asia.
The partnership strengthens GigaMedia's rapidly growing pan-Asian
entertainment platform, a one-stop solution for game developers and
entertainment providers addressing over 68 million registered users in the
region's huge and lucrative market.
Pursuant to the terms of the strategic partnership with XLGames,
GigaMedia has made an investment in XLGames and obtained board
representation and certain strategic rights.
GigaMedia Limited (Singapore registration number: 199905474H) is a
major provider of online entertainment software and services. GigaMedia
develops and licenses software for online gaming. GigaMedia also operates
online games businesses including FunTown, a leading Asian casual games
portal and the world's largest online MahJong game site in terms of
revenue, and T2CN, a leading online casual sports game operator in China.
More information on GigaMedia can be obtained from
XLGames Inc. was founded in Seoul, Korea in 2003 by NCSoft's former
Executive Vice President and Head of Worldwide Development, Jake Song,
creator of Lineage, one of the most popular and successful MMORPGs of all
time. XLGames also develops games in its subsidiary office in Austin,
Texas, to help insure the company's products have strong appeal to the
diverse cultural preferences of both Asian and American gamers. XLGames'
global game design team collaborates on all aspects of art, engineering and
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 June 2007.
For further information contact:
Investor Relations Director
SOURCE GigaMedia Limited