GigaMedia Buys Asian Games Portal For $45 Million

Gigamedia, a Nasdaq-listed Taiwanese digital media and games company, has bought out FunTown, an Asian online casual game portal and operator of what it says the “world’s largest online Mahjong game site in terms of revenue”. The sale price: $45 million, which represents about 8.9 times estimated full-year 2005 net income of FunTown.

Founded in 1998, FunTown has over four million registered users, 500 thousand paying customers and an offering of 41 games, the company says.

GigaMedia will license FunTown’s software to worldwide….

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