Jan. 2, 2012
GigaMedia Limited (NASDAQ: GIGM) ("GigaMedia") announced today that its
online games platform
has acquired a specialized Web-based social games development team in
and expects to roll out the first of its new proprietary social network games in
"We are making rapid progress in
, positioning ourselves to benefit from two powerful market forces in online games: the ongoing shift into Web and mobile platforms and the continued strong popularity and growth of social games," stated
Chief Executive Officer
. "Web-based and social games are projected by industry analysts to grow at up to triple-digit rates in
– faster than traditional client-based or PC games."
"This SNS-focused R&D team is a crucial extension of our business in
," stated Jidi Joy CEO
. "Beta testing is now scheduled for late
; we expect to launch multiple new games in
this year on our platform as well as on high-traffic social networking portals and are excited about the opportunities this creates for us."
The cornerstone of GigaMedia's growth initiatives in
is a developer and operator of online games in
. The company is led by a team of industry veterans and is a fully-licensed, full-service online game platform with ISO 9001 certified customer service and technical support.
GigaMedia Limited (
registration number: 199905474H) is a major provider of online entertainment software and services. Through its subsidiaries, GigaMedia develops and operates a suite of online games in
, covering all regions of
. More information on GigaMedia can be obtained from
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 20
SOURCE GigaMedia Limited