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23/04/2018 22:09:50

HONG KONG: Hong Kong Exchange-listed lifestyle brand for gamers Razer today announced plans to take a 65.1% interest in MOL Global Inc for US$61 million (R238 million) by way of a statutory merger.

While the merger is subject to the approval of shareholders of MOL Global, Razer has already secured irrevocable undertakings from other major shareholders of MOL Global to vote in favour of the merger, which together with the 34.9% interest Razer holds, is enough for the merger to be approved.

MOL Global will then be a wholly owned subsidiary of Razer.

Tan Sri Vincent Tan is a majority shareholder of MOL Global.

“This acquisition will combine Razer zGold and MOL Global’s MOLPoints virtual credits creating one of the largest virtual credit platforms for gamers in the world ,” Razer co-founder and CEO Tan Min-Liang said in a statement today.

“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 existing businesses by capturing the fast growing southeast region for Razer,” he added.

MOL Globals’ offline-to-online payment model, with about one million offline payment points, already makes it the largest virtual credits platform gamers in the region.

After the merger, Razer’s current zGold virtual credit business will be combined with MOLPoints under a single entity.