GigaMedia Completes Sale of Legacy Business

25 September 2008

GigaMedia Ltd., the Taiwan software developer, has completed the $20 million sale of its legacy cable and Internet service provider business to China Network Systems Company, a cable television service provider also of Taiwan.

The company said the sale is expected to be neutral with regard to earnings per share during the 2009 fiscal year, though during the third quarter of this year it will make a one-time gain of $8 million.