Less than a year after picking 34.9 per cent stake in Malaysia’s MOL Global, Singapore- and US-based gaming accessories company Razer today said it intends to acquire the remaining stake in the e-payments venture for approximately US$61 million.
Upon the completion of the deal, MOL Global will become a wholly-owned subsidiary of Razer.
The merger is subject to the approval of MOL Global’s shareholders.
Post-merger, Razer’s current zGold virtual credits business will be combined with MOL Global’s MOLPoints virtual credits business, creating a virtual credits platform for gamers under a single entity. As per a statement, this will accelerate and scale up the services category within Razer’s gamer-focused ecosystem, allowing games and media companies to continue to further monetise their games and content worldwide on a singular platform.
“Southeast Asia represents one of the highest GDP growth regions with one of the youngest demographics in the world. Additionally, given that MOL Global already runs one of the largest e-payments networks in Southeast Asia, the integration of MOL Global’s businesses represents an exciting new business segment with boundless potential that Razer can extend into,” said Min-Liang Tan, Co-founder and CEO of Razer.
“Over and above, we will be able to leverage on MOL Global’s leading technologies, as well as its massive network of content, customers and partners built over 17 years, and extend our existing businesses by capturing the fast-growing Southeast Asia region for Razer,” added Tan.
MOL Global is a leading e-payment enabler for online goods and services in emerging and developed markets. It operates a payments platform that connects consumers with digital content providers, telecommunications service providers and online merchants by providing a vast network of distribution channels that accepts cash and online payment methods. Its physical distribution network comprises approximately one million locations in 11 countries/ regions.
MOL Global also has mobile payment channels and electronic distribution channels that accept major credit cards and online banking from more than 100 banks. Its products and services include the MOLPoints, an online micropayment system which sells payment credits that can be used to purchase online game credits and digital content; MOLReloads, a distribution network that distributes prepaid mobile airtime and digital content; MOLPay, a payments solution for online merchants; Gift Cards, a perfect gift for any occasion; One2pay, a mobile wallet app and MMOG.asia, an online games portal.
Founded in 2005, Razer’s software platform claims to have over 40 million users. Its products include Razer Synapse (an Internet of Things platform), Razer Chroma (a proprietary RGB lighting technology system), and Razer Cortex (a game optimizer and launcher). Its services include Razer zGold, a virtual credit service for gamers, which allows gamers to purchase virtual goods and items from over 2,500 different games.