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GigaMedia Invests in Neostorm

| 20 Dec 2007 17:10
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Chinese online casino operator GigaMedia expanded its gaming business by purchasing a stake in smalltime studio Neostorm.

Chinese online game operator GigaMedia Limited has invested in South Korean independent developer Neostorm Holdings Limited. Its investment has earned the publisher board representation and strategic influence within the smaller studio. Neostorm was formed following the merger of four separate studios and is composed of veterans from NCsoft and Nexon Corporation. Their partnership will allow GigaMedia to distribute Neostorm's four casual, in-development online titles through its vast publishing network.

GigaMedia President Thomas Hui said, "Neostorm is a game development powerhouse. We are very excited to partner with them and continue strengthening our portfolio of world-class entertainment content.

"We are rapidly building an exciting regional online entertainment business with strong competitive advantages and operating synergies. Neostorm is an outstanding partner whose games will help fuel strong long-term growth."

"With unparalleled reach and an extensive network of strong strategic partners, GigaMedia brings to bear tremendous resources. Together, we are positioned to capture enormous regional opportunities in online games," added Neostorm Chief Executive Officer Chris Kim.

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