Gaming accessories and equipment producer Razer agreed yesterday to acquire Malaysia-based digital payment technology provider MOL Global for about the same valuation at which it backed the company in June 2017.
Razer acquired a 19.9% share of MOL in June through a secondary share purchase and bought another 15% in February 2018, according to the Hong Kong Stock Exchange filing that revealed the deal. It will pay $61.2m for the remaining 65.1% of MOL.
MOL runs a digital payment service that enables unbanked users to pay for online goods and services such as digital content, mobile services and e-commerce items in cash through a network of 970,000 physical outlets that span 11 countries.
The company’s resources will help Razer expand zGold, a virtual credit platform it launched as a way for gamers to receive and make virtual payments online.
The two have already partnered on zGold-MOLPoints, a micropayment system that can be used in thousands of games, and the acquisition will allow Razer to build one of the world’s largest in-game payment systems.
Min-Liang Tan, Razer’s co-founder and CEO, said in a statement: “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.
“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.”