GigaMedia Limited (GIGM) announced 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 company said that 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.
As per 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.
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