Hong Kong-listed gaming hardware manufacturer Razer has completed its acquisition of Malaysian payment platform MOL Global Inc for about $61 million.
The acquisition plan was announced in April, where Razer said it intended to acquire the 65.1 per cent stake it did not already own in MOL Global. Razer previously held a 34.9 per cent stake in the Malaysian firm.
The deal completion now gives Razer full control of the online and offline payment platform and will help accelerate Razer’s expansion in Southeast Asia.
“The full integration of MOL Global broadens the scope of opportunities available to Razer, especially our services category.
“We will work with various category leaders to develop services to better serve gamers’ lifestyle needs, and help gaming companies further monetize their games and contents in emerging markets on a singular platform which will benefit from the combined economies of scale,” said Razer co-founder and CEO Min-Liang Tan.
MOL Global’s payment gateway is utilized by Lazada, Grab and UNIQLO. In addition, MOL Global’s virtual credits platform has enabled world-leading games companies such as Sony PlayStation Store SEA, Facebook Gameroom, Nexon and Wargaming to monetize their games and digital content in Southeast Asia.
The payment firm was listed on New York’s NASDAQ Global Select Market in October 2014, and was delisted in April 2016, as its share price tumbled below $1.
Founded in 2005 and dual-headquartered in San Francisco and Singapore, Razer has nine offices worldwide. Its gaming accessories assortment range from laptops to audio devices.