This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

GigaMedia Partners With Neowiz

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

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

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,993.89 +281.23 1.59%
S&P 500 2,085.27 +24.25 1.18%
NASDAQ 4,941.6030 +50.3840 1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs