London – Galleon Holdings plc, the AIM-listed intellectual property owner and developer, 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 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. Acquisition forms part of Galleon’s expansion program as it strengthens its presence in China. Galleon and Phoenix intend to exploit their broadcaster relationships across South East Asia to widen the reach of the interactive services and to roll out new entertainment properties.