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Gigamedia Announces Expiration of Sega Letter of Intent
GigaMedia, a leading provider in Taiwan of broadband Internet access services and Chinese broadband content, has announced the expiration of the letter of intent with Sega.com Asia Ltd.
GigaMedia and Sega.com Asia Ltd management mutually agreed to allow the letter of intent to elapse without finalizing the definitive agreement due to a strategic reassessment of the game console business and restructuring at Sega. GigaMedia remains committed to developing advanced online gaming offerings to complement the company's dynamic broadband content and will continue to pursue development of online gaming content.
About GigaMedia Limited
GigaMedia is the first and leading provider of broadband Internet access services and Chinese content in Taiwan with a world-class platform capable of offering broadband Internet access at speeds of up to 100 times faster than traditional dial-up services. With 29 cable system partners, the company has access to more than 3.8 million Taiwan households, as well as 576,000 small and medium businesses. In addition, the company also offers 12 interactive Chinese-language multimedia Web sites through its Web destination http://www.gigigaga.com. Strategic investors of GigaMedia include Microsoft, the world's leading software provider, and the Koos Group, a major player in Taiwan's manufacturing, finance, telecommunications, media, and cable industries. More information on GigaMedia can be obtained from http://ir.giga.net.tw.
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