GigaMedia, a Taiwan-based operator of online sports and gaming sites and maker of gaming software, will pay $22.9 million to acquire a majority stake in T2CN Holding, a Chinese online sports and casual game operator. It will buy up to 18.3 million shares of T2CN, which is about 40 percent of the company.
GigaMedia said the acquisition will help it build a dominant online entertainment platform in Asia. T2CN operates FreeStyle, a popular online sports game in China. More info here.
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