Razer to acquire MOL Global Inc.
Razer is slowly turning their focus on the e-commerce market. First, we got word that they have plans to enter Lazada in the Southeast Asian market. Now, the well-known gaming company has their eyes set on acquiring MOL Global Inc, a known e-payment provider. They will be taking approximately 65.1% of MOL Global’s issued share capital for a hefty price of $61M.
The acquisition will see the merger of Razer’s own zGold with MOL Global’s MOL points.
“This acquisition will combine Razer’s zGold and MOL Global’s MOLPoints virtual credits, creating one of the largest virtual credits platforms for gamers in the world,” said Min-Liang Tan, co-founder and CEO of Razer
Razer’s entry into the e-payments business will receive a good jump start as MOL Global Inc already holds one of the largest e-payment networks in Southeast Asia. This will also be in line with Razer’s goal to enter and capitalize the market potential in the region.