Extends Wretch Partnership to Yahoo! Taiwan
TAIPEI, Taiwan, Dec. 15 /Xinhua-PRNewswire/ -- GigaMedia Limited
("GigaMedia" or the "Company") (Nasdaq: GIGM) announced today that its
leading casual games portal FunTown has entered into a strategic cooperation
agreement with Yahoo! Taiwan Inc. ("Yahoo! Taiwan") designed to broaden and
enrich the entertainment and community offerings of both portals.
The strategic cooperation adds Yahoo!'s leading online entertainment and
community offerings to FunTown's world number one MahJong and other online
casual game offerings. The cooperation includes co-marketing of FunTown's
games on key Yahoo! Taiwan properties and revenue sharing on resulting sales.
The strategic cooperation with Yahoo! Taiwan follows the proposed
acquisition by Yahoo! Taiwan of GigaMedia's strategic partner Wretch, which
acquisition is expected to close in early 2007. Wretch is Taiwan's top
community "blog" site. As part of this transaction, GigaMedia has agreed to
cancel its option to purchase equity interest in Wretch in exchange for the
larger strategic cooperation with Yahoo! Taiwan and a cash payment.
Cooperation with Wretch will continue under the new agreement with
Yahoo! Taiwan and expand to include strategic cooperation with Yahoo!
Taiwan. Direct links to a co-branded FunTown and Yahoo Taiwan! Web site will
be prominently featured throughout Wretch, and will be placed on Yahoo!
Taiwan's online game and messenger homepages with banner advertisement
rights designed to drive users to the co-branded site. Members of Yahoo!
Taiwan will also be able to use their login and password to directly access
FunTown's games on the
co-branded site.
About GigaMedia
GigaMedia Limited (Singapore registration number: 199905474H) is a major
provider of online entertainment software and services. GigaMedia develops
software for online entertainment services, including the global online
gaming market. GigaMedia's FunTown game portal is a leading Asian casual
games portal and the world's largest online MahJong game site in terms of
revenue. GigaMedia also operates a broadband ISP providing Internet access
services to consumers and corporate subscribers in Taiwan. More information
on GigaMedia can be obtained from http://www.gigamedia.com.tw
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 2006.
For further information contact:
Brad Miller, Investor Relations Director
Country/City Code 8862 Tel: 3518-1107
brad.miller@gigamedia.com.tw
