Japanese online game and community developer GaiaX has concluded an agreement to acquire the shares in Taiwanese online game distributor APE, Inc, now held by Anaheim Electronics. GaiaX has also inked licensing agreements for "Twinkle", an online racing game scheduled for domestic release in August, with APE for the Taiwan and Hong Kong markets.

"GaiaX is dedicated to the affirmative power of the Internet and working on the expansion of 'communities' as a platform where many people meet, talk to and grow with each other on the Internet," says Yuji Ueda, President of GaiaX. "We are very optimistic and excited about our new relationship with APE, Inc., and are looking forward to building an online community not only in Taiwan and Hong Kong, but in time, around the world."

APE, with more than 2 million registered gaming members in Taiwan and Hong Kong, also manages online gaming communities 'Tantra', 'Survival Project' and 'With Your Destiny II' from South Korea as a business operation of major Taiwanese communications firm Asia Pacific Online Service Company.

Plans call for the full transfer of these online gaming operations from APOL to APE to be completed by July 31, 2006. APOL will retain its 44.63% stake in APE, while GaiaX will acquire a 41.37% stake from Anaheim Electric in a transfer valued at NT$32,250,000.