IPVG partnership with Singapore online gaming firm to open more virtual worlds

Real-world fight for local market share to enhance game visuals, action.

Information technology and communications company IPVG Corp. (PSE:IPVG) and its subsidiary IP E-Games Ventures Inc. (IP E-Games) has partnered with Singapore-based regional gaming firm Infocomm Asia Holdings (IAH).

Under the agreement, IP E-Games becomes the exclusive publisher and distributor of exciting IAH titles including the multi-awarded "Granada Espada" ("G.E"), a triple-AAA title developed by Hakkyu Kim, the recognized "father to Korean online games" and creator of Ragnarok.

The partnership takes both IP E-Games and IAH further into the rapidly growing Philippine market for Massively Multiplayer Online Game (MMOG) and Massively-Multiplayer Online Role-Playing Games (MMORPG) alongside other IP E-Games titles such as Ran Online, Battle Royale and Supreme Destiny.

"Our partnership with IAH and the introduction of G.E into the Philippine market is a major milestone for both our company and the local gaming industry. With G.E, and IAH, we can assure Filipino gamers a continued stream of leading triple-AAA titles. This is in line with our vision of giving local gamers playing experience on par with other countries such as Korea and China," says Enrique Gonzalez, CEO of IPVG.

Value in collaboration

Both companies expressed that they will be maximizing the value of their distributorship agreement, taking their collaboration to the level where IAH can acquire and invest in IP E-Games. In the same manner, the agreement likewise enables IPVG to invest in IAH that will also allow them to participate in a regional floatation on a regional stock exchange.

According to the IPVG CEO, "We believe and support IAH's vision of 'One Market, One Asia'. Though online gaming will continue to be a dynamic industry, leading operators must view this business from a regional perspective. As an online content business, we are 'boundary-less'. Our alliance with IAH not only provides us a pipeline of quality games for the Philippine market, it also means that we join ranks with Asia's leading game publishers. This places IPVG and IPE in a unique position in the Philippine market."

IAH for its part secured more than $14 million in funding, making it one of the most well-funded online games start-up in the region. It also recently acquired exclusive region-wide rights to top-rated MMORPGs Granado Espada and Hellgate: London from Korean online games publisher HanbitSoft, an unprecedented move that puts the company at the top of its game. IAH principal investors include The9 (NASDAQ listed) a China based gaming operator, IDA (telecommunications arm of the Singapore Government) and CommerzBank. IAH has also recently secured funding commitments from GigaMedia and SoftBank's Bodhi Investments bringing the total invested in IAH to over USD 23 Million.

Right Track

Online gaming is indeed the road to take as it sees an explosive exponential rise in Asia Pacific. A recent study made by high-tech market research firm In-Stat (http://www.in-stat.com) shows that total online games market revenues for Asia Pacific in 2005 stood at US$3.2 billion, and that it will continue to rise to US$6.8 billion in 2010. In-Stat credits this growth due to the massive surge of consumer Internet users in the recent years.

In the Philippines, online gaming is likewise seeing explosive growth since it first hit its peak in 2003. The country's online gaming population of 3.2 million gamers is expected to increase to 11 million by 2010. With the steady progression of local Internet infrastructure, the Philippines is seen to become one of the most lucrative and highly valued market for online gaming.

Steve Tsao, President/COO of IP E Games says "We will continue to launch leading triple-AAA titles in the Philippines which will elevate the quality of game play for local gamers. We will only be limited by the appreciation and imagination of our online gaming subscriber base for new genres.

IAH and IPE offers game developers a highly sophisticated and well entrenched game publishing infrastructure. The same infrastructure offers gamers in S.E Asia a reliable and dynamic entertainment platform."

With the partnership between IPVG and IAH, local gamers will be able to experience more Asian-made virtual worlds. As the competition heats up to open more spectacular and breathtaking virtual worlds, more heart-pounding fights among virtual characters, and a more exhilarating overall experience, Philippine game publishers will be faced with more grueling real-world competition.

About Infocomm Asia Holdings

Infocomm Asia Holdings Pte Ltd aims to become the leading operator and distributor of online games in Southeast Asia through strategic alliances with other online games operators in the region.

About IPVG

IPVG is publicly listed on the Philippine Stock Exchange and engaged in the information technology and communications space. IPVG owns three operating subsidiaries engaged in information technology and telecommunications, on-line gaming, and business process outsourcing.

About IP E-GAMES

IP E-GAME VENTURES (IP E-Games), is a subsidiary of IPVG Corp (IPVG), and has the exclusive rights to publish e-games portal of TERRA ICT in the Philippine market. IP E-GAMES has also secured rights to RAN ONLINE, a #1 Massively Multiplayer Online Game ("MMOG") in Taiwan, Malaysia, Hong Kong and Thailand. IP E-GAMES is currently the #1 ranked online games publisher in the Philippines, with RAN ONLINE #1 MMORPG and O2Jam #1 casual game in terms of number of active users. IP E-GAMES has also launched Supreme Destiny and Audition. IP E-GAMES strategic minority investors include the Philippine Star Group, and E-Store Exchange (affiliate of GMA7).