Razer to acquire Malaysian e-payment firm MOL for USD 61 million

Gaming industry giant Razer has recently announced that it is weighing an acquisition plan with the Malaysian e-payments platform – MOL that offers online and offline payment services. Reportedly, the acquisition is expected to merge MOL Global’s MOLPoints and Razer’s zGold virtual currency platforms, developing one of the largest platform of virtual credits for the gamers worldwide.

Reliable sources reveal that Razer already holds a 34.9% stake in MOL and now plans to completely buy out the remaining stakes for a valuation if USD 61 million.

Razer affirmed in a statement that it has already ensured “irrevocable undertakings” and positive support from prominent stakeholders to vote in favor of the union. As per authentic reports, post the successful completion of its proposed acquisition, MOL Global will become an entirely owned subsidiary of Razer.

For the record, Razer’s virtual credit service Razer’s zGold allows the gamers to buy virtual items and goods from over 2,500 games.

The move comes on the heels of Razer’s recent announcement to launch its distribution platform of digital games in the Southeast Asia market with Singapore being its epicenter.

Tan Min-Liang, Razer’s co-founder and CEO, revealed in a statement that Southeast Asia is one of the biggest GDP growth regions with relatively young demographics across the globe.

Industry experts further deem that the Asia Pacific electronics and media industry is traversing along a lucrative roadmap and is simultaneously uplifting the growth prospects of the regional gaming market. They also claim that the electronics & media industry has also been experiencing heavy gains on account of the rapid proliferation of IoT, cloud, and digital gaming concepts coming into play.

It has been reported that the Razer Game Store will be available on the e-commerce platform of Lazada. The platform will be later launched in Thailand and Malaysia, followed by the Philippines and Indonesia.