This excerpt taken from the GIGM 20-F filed Jun 30, 2005.
During 2002, we acquired Taiwans two leading music store chains, Rose Records and Tachung Records for approximately US$18.3 million for a 58.58% ownership stake in these businesses. During 2004, we acquired Grand Virtual Inc. and certain of its affiliates in a private transaction from the founding shareholders of GV Enterprise Voting Trust, through our wholly-owned subsidiary, CESL, for an all-cash consideration of US$32.5 million. In the absence of a quoted market price for the shares of these businesses, the acquisition prices of these businesses were determined based on managements estimates for fair value of acquired net assets, including goodwill and amortizable intangibles. The actual fair value of such acquired net assets may differ significantly from managements estimates. We determined the purchase price allocation based on estimates of the fair values of the tangible and intangible assets acquired and liabilities assumed at the date of acquisition. These estimates were arrived at with the assistance of independent valuation consultants utilizing recognized valuation techniques. Any excess of cost over the net of the amounts assigned to the assets acquired and liabilities assumed are recorded as goodwill.