Aug 31, 2008

GigaMedia Sells Legacy ISP Business; One-Time Gain Expected

到目前為止,我的工作生涯中待得最久的公司就是和信超媒體,當初加入Gigamedia時只是台北辦事處,後來的發展事實上是出乎我意料之外(NASDAQ上市,股票代碼GIGM),隨著主事者的異動/寬頻ADSL的崛起/CableModem業者的觀 望,整個Gigamedia的目標其實一直隨著時間及大環境、人事的異動不斷地改變,變到最後幾乎連資深員工/主管都不知道Gigamedia下一步方向是什麼,這也是我想離開的原因之一…兩年前的八月十日就是我離開的Gigamedia,也是我加入Gigamedia滿八年的日子,其實到現在我還是很留戀Gigamedia的工作環境,老闆完全信任技術人員的判斷,除了大方向之外,所有的網路設計及建設都是由工程師自行負責及規劃,因此可以說非常自主的環境(當然有時必須配合特定客戶調整網路規劃是每一個ISP都會遇到的情況)。

其實ISP在台灣可以說是一個不賺錢的行業,幾乎沒有一家ISP有一個很漂亮的財務成績單(Hinet/Seednet除外),每一個ISP都是以損益平衡為第一目標,但是許多ISP在達到損益平衡之後…還是損益平衡…這不是股東們要的東西,所以最後許多ISP(第二類電信)的下場通常是關門或是被併購,"大者恆大,小者恆小"(Gigamedia只打破了第二句話,由小變大,但是ISP業務的獲利情況還是不盡理想..)。所以,後來Gigamedia重心業務由ISP轉成ICP(Online Game),事實上大家心理是比較踏實的,畢竟只有獲利才能讓公司不斷地成長,原地踏步只是逐漸凋零。不過ISP部門對於Gigamedia來說就漸漸地變成雞肋,甚至會是一只拖油瓶沒有獲利的累贅,因此這樣的結果對Gigamedia整體而言是一個正確的方向。這樣的結果在每個ISP員工心裏都有一個底,只是不知道這個日子何時來臨…最後只想對所有曾經跟我在Gigamedia網路部門共事過的所有老同事好朋友好長官們說一聲「珍重,再見」!

PRNewswire-FirstCall/ -- GigaMedia Limited (Nasdaq: GIGM) announced today the sale of its legacy cable and corporate Internet service provider ("ISP") business, consistent with GigaMedia’s focus on the high-margin, high-growth online entertainment sector.

China Network Systems and its affiliates purchased the consumer cable modem and corporate ISP business from GigaMedia for total consideration of as much as $25 million, including approximately $20 million in cash upon closing of the transaction, subject to certain price adjustments, and an additional amount of up to $5 million upon achievement of certain performance benchmarks during the two-year period following the transaction closing.

GigaMedia expects the sale to close shortly, following customary regulatory approvals, and to record a one-time gain of approximately $8 million as a result of the transaction.

"The broadband ISP business was the final legacy of the old GigaMedia, a non-core asset we are happy to dispose of," stated GigaMedia Limited President Thomas Hui. "This disposal will allow us to allocate management resources and capital to our core entertainment businesses and accelerate growth."

This disposal of the last remaining ISP business units effectively concludes GigaMedia’s strategic restructuring begun after the arrival of a new management team in 2004.

About GigaMedia

GigaMedia Limited (Singapore registration number: 199905474H) is a major provider of online entertainment software and services. GigaMedia develops and licenses software for online gaming. GigaMedia also operates online games businesses including FunTown, a leading Asian casual games operator and the world’s largest online MahJong game site in terms of revenue, and T2CN, a leading online sports game operator in China. More information on GigaMedia can be obtained from http://www.gigamedia.com.tw .

The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking statements are based on the company’s current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Information as to certain factors that could cause actual results to vary can be found in GigaMedia’s Annual Report on Form 20-F filed with the United States Securities and Exchange Commission in June 2008.

For further information contact:

Brad Miller, Investor Relations Director

Tel: +886-2-2656-8016

Email: brad.miller@gigamedia.com.tw

SOURCE GigaMedia Limited
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