| IAH Raises US$23 Million in New Funds, Strengthening IAH’s Leadership as the Premier Online Game Provider In Southeast Asia |
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Highlights
Singapore, May 27, 2010 - Infocomm Asia Holdings Pte Ltd ("IAH"), a leading publisher, operator and distributor of online and console games in Southeast Asia announced today that it has raised US$23 million in capital and financial instruments from strategic shareholder GigaMedia Limited ("GigaMedia") (NASDAQ: GIGM). This highly strategic investment by GigaMedia is the latest step in IAH’s plan to build a dominant online games and entertainment platform in Southeast Asia with the aim of uniting gamers in the Southeast Asian region under one common umbrella, as expressed in IAH’s motto of One Market, One Asia. “IAH has tripled its online revenues for 2 consecutive years running from our current distribution of 3 online games – Granado Espada, FIFA Online 2 and Dragonica. IAH has also increased our gamer database from 500,000 registered users in the first year to over 35 million registered users today,” “Thus the GigaMedia investment will enable IAH to capitalise on its rapid growth in revenue and gamers database to expand its portfolio of top-quality games as exemplified by the recent addition of new blockbuster online games. IAH is very bullish about achieving its financial plan of at least tripling its online revenue again this financial year.” highlighted Roland Ong, CEO, IAH. This strategic acquisition establishes GigaMedia as a major player in one of the world's fastest growing online game markets. "This is a significant step for GigaMedia to continue to build and strengthen its online strategy in the region. We believe in IAH’s proven strategy to consolidate Southeast Asian online games market, which is one of the world’s fastest growing markets," stated Arthur Wang, Chief Executive Officer, GigaMedia.
About Infocomm Asia Holdings Headquartered in Singapore, IAHGames is a leading publisher, operator and distributor of interactive entertainment. The company currently operates award-winning titles including EA SPORTS™ FIFA Online 2, Granado Espada, Dragonica, and also distributes Blizzard Entertainment® games such as StarCraft® II: Wings of Liberty™; World of Warcraft® and the Warcraft®, StarCraft®, and Diablo® series, and Take-Two Interactive products such as Grand Theft Auto IV ™ and the Bioshock® series. One of the first online games companies in the world to receive ISO 9001:2000 certification for “Distribution and Operation of Online Games”, IAHGames executes a unique “One Market, One Asia” strategy that offers developers and publishers a one-stop distribution service for multiple countries. 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 www.gigamedia.com.tw. |