London – Galleon Holdings plc, the AIM-listed intellectual property owner and developer in the entertainment sector, has acquired Hong Kong-based media solutions company, Phoenix Investment Global Ltd for an initial £1.5 million ($US3.1 million). A deferred £500,000 ($US1 million) will be payable subject to, inter alia, two of Phoenix’s broadcast customers in South East Asia entering into exclusive arrangements on certain mobile phone services. Also, an additional £3.5 million ($US7.2 million) may become payable, subject to Phoenix’s financial performance over the next three years. Stephen Green, CEO of Galleon Holdings plc., said “Our strategy for cross-platform media entertainment has been to focus on the emerging markets, with their huge audiences and high mobile phone penetration. With Phoenix, Galleon has a pipeline straight into China and Asia giving our cross-platform entertainment content access to hundreds of millions of viewers at any one time.”