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Everest owner Gigamedia Limited in merger or sale talks

Taiwan-based and US-listed GigaMedia Limited, which owns successful online gambling operations like Everest Gaming, is in talks with a number of interested parties in connection with a strategic merger or sale, reports MergerMarket.

Chief Executive Officer Arthur M. Wang told the publication that the company is in discussions with several interested parties, and has retained an unidentified financial adviser.

"If a merger or sale does not proceed, we will seek strategic acquisition targets as well as consider joining poker liquidity with other operators and platforms," Wang further intimated during the company's Quarter 2,2008 earnings call on 31 March.

"As a public listed firm with a strong balance sheet, we believe we have a good opportunity to make accretive acquisitions during the course of this challenging year," Wang remarked.

Source: InfoPowa News

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