December 19, 2005

Briefs: GigaMedia buys FunTown

GigaMedia will buy top Asian game portal FunTown, the company said Monday.

GigaMedia Limited said in release that it has entered into a definitive agreement to acquire FunTown, a leading Asian online casual game portal and operator of the world's largest online Mahjong game site in terms of revenue.

"With FunTown, we enter the fastest growing segment of online gaming, casual gaming, with a commanding lead," explained GigaMedia CEO Arthur Wang. "The acquisition is both highly strategic and highly accretive -- driving significant earnings growth in 2006 and beyond."

Mahjong is a traditional Asian table game, called the poker of Asia, with an estimated potential market of over 1 billion players.

Briefs: GigaMedia buys FunTown

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