Party Gaming holds talks with rival Gigamedia

20 April 2009
LONDON, England -- As reported by The Times: "Online gambling group Party Gaming is holding talks on a deal with Nasdaq-listed rival Gigamedia.

"Gigamedia, which has a market value of $363m (£246m), is thought to have hired Goldman Sachs, the investment bank, to find a buyer for the whole company or simply its Everest poker brand. Party Gaming, which this month settled a legal dispute with the US Department of Justice (DoJ), is among a small number of parties thought to be negotiating with Gigamedia..."