Razer planning to acquire online currency firm MOL Global
MANILA, Philippines – Gaming gear company Razer announced Monday, April 23, it was planning to fully acquire virtual currency firm MOL Global for $61 million.
MOL Global is an electronic payments network across Southeast Asia, where users can pay through kiosks offline in places like 7-11 for currency they can use to buy goods and services online.
The merger, says Razer CEO Min Liang-Tan in a statement, would "combine Razer's zGold and MOL Global's MOLPoints virtual credits, creating one of the largest virtual credits platforms for gamers in the world."
He added such a merger would allow Razer to extend its businesses by "capturing the fast-growing Southeast Asia region for Razer," particularly when it comes to electronic payments.
The proposal is still subject to the approval of MOL Global shareholders, though Razer already has gone through the steps of getting shareholders to vote along with Razer's existing 34.9% stake to approve the merger.
Razer recently teamed up with online store Lazada to have a regional digital game store on the marketplace. – Rappler.com