Tokyo, July 14, 2006 (ABN Newswire) - GaiaX Co Ltd (TSE: 3775), a leading Tokyo-based online game and community developer, is pleased to announce that it has concluded an agreement to acquire the shares in major Taiwanese online game distributor APE, Inc., now held by Anaheim Electronics, Inc., in a move scheduled to finalize in August 2006. In a related move, GaiaX also announces that it has entered into licensing agreements for 'Twinkle', an online racing game scheduled for domestic release in August, with APE for the Taiwan and Hong Kong markets.
GaiaX is actively developing middle core* online games 'Twinkle', 'Appare! Karakuri Bowling', an online bowling game scheduled for domestic release in Winter 2007, a first person shooter game slated for domestic release in Spring 2007, with an eye to international deployment. With a broad experience in developing console games in partnership with major domestic game development firms, GaiaX is developing original online games for both children and adults with Japanese-style characters, global outlook, and above all, keen gaming sense. All games are going to be provided in a free-to-play, item-based business model.
"GaiaX is dedicated to the affirmative power of the Internet and working on the expansion of 'communities' as a platform where many people meet, talk to and grow with each other on the Internet," says Yuji Ueda, President of GaiaX. "We are very optimistic and excited about our new relationship with APE, Inc., and are looking forward to building an online community not only in Taiwan and Hong Kong, but in time, around the world."
APE, with more than 2 million registered gaming members in Taiwan and Hong Kong, also manages online gaming communities 'Tantra(TM)', 'Survival Project(TM)' and 'With Your Destiny II(TM)' from South Korea as a business operation of major Taiwanese communications firm Asia Pacific Online Service Co., Inc. (APOL). Plans call for the full transfer of these online gaming operations from APOL to APE to be completed by July 31, 2006. APOL will retain its 44.63% stake in APE, while GaiaX will acquire a 41.37% stake from Anaheim Electric in a transfer valued at NT$32,250,000, or approx. US$994,660.
* Middle core online game: Online game featuring both intense ('yarikomi') play and community play elements, targeting both the expanding group of casual game users and those core users who play on existing consoles or MMORPG. Players are able to enjoy one basic game play of 10-30 minutes at no charge.
* Some of the trademarks are trademarks or registered trademarks of other companies.
For more information about 'Twinkle', please visit http://twinkle.mupoh.jp/Games/.
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