New growth strategy; $1.09
GigaMedia outlines new growth plans for online games (GIGM) 1.09 : Co announces new growth initiatives for its online games business and unveiled GigaCloud, a new cloud computing business. Management is extending co's online games platform to Web-based/mobile "light" games, with focus on growing revenue organically and through partnerships and acquisitions in emerging markets. The co's plans capitalize on the strong global growth of Web-based/mobile games, particularly in Asia. Plans to scale Giga's online games business follow initiatives executed in the first and second quarters of 2012 to improve margins by simplifying operations, lowering operating costs and driving productivity.