Razer completes MOL Global acquisition, reiterates SEA expansion plans

Razer completes MOL Global acquisition, reiterates SEA expansion plans

SINGAPORE: Gaming peripherals company Razer completed its acquisition of electronic payments platform MOL Global on Friday (May 11) and, with it, looks to expand its regional presence, CEO Tan Min-Liang said.  

In an Instagram post, Mr Tan welcomed the payments platform to its fold after the "successful completion of the legal transaction". 

"We look to further expand Razer's geographical footprint in Southeast Asia, leveraging MOL Global's technologies as well as its massive network of content, consumers and partners built over 17 years," the CEO wrote. 

Razer, which previously held a 34.9 per cent stake in MOL, announced last month that it will buy out the remaining stake for about US$61 million (S$81 million). Mr Tan had said then that the acquisition will combine Razer's zGold and MOL's MOLPoints virtual credits to create one of the largest virtual credits platforms for gamers in the world. 

The Razer chief had told Channel NewsAsia in an interview last November that Southeast Asia will be one of his key focus areas for the next couple of years. It had recently launched its digital game distribution platform, Razer Game Store, in Singapore and Southeast Asia through a partnership with e-commerce platform Lazada.

Source: CNA/kk