TOKYO (08/10/2000) - With sights firmly set on the Japanese broadband market, Hong Kong's Pacific Century CyberWorks Ltd. (PCCW) has inked a deal to acquire a controlling stake in Jaleco Ltd., a Japanese entertainment software producer, the companies announced Thursday.
The deal will see PCCW spend 27 billion [B] yen (US$250.1 million [M]) to get an 81 percent stake in Jaleco. Once the takeover is completed, PCCW intends to take management control of the company and use it as a vehicle to spearhead its push into the Japanese and North Asia broadband content markets, the company said.
In Japan, PCCW will work with three local partners: advertising agency Dentsu Inc., financial services company Orix Corp. and Japanese publisher and entertainment ticket agency Pia. In addition, the company will tie up with Sony PCL on production of content for NOW (Network of the World), PCCW's recently launched global broadband entertainment service.
NOW provides free television programming and complementary Web pages via the Internet and a pan-Asia broadcasting satellite that supplies the content to cable TV operators. PCCW intends to provide NOW across Asia via partnerships with cable TV systems.
(More to come)