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Razer buys an online payment service

Posted on Tuesday, April 24 2018 @ 09:50:25 CEST by


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WCCF Tech writes Razer used some of the cash from its initial public offering (IPO) to acquire MOL Global. We had never heard about this firm before, but apparently it's a Malysian online payment processor. Razer bought a 35 percent stake last quarter and just got its hand on the remaining 65 percent or $61 million. MOL Global is one of the largest e-payment networks in Southeast Asia, but it seems a bit puzzling how Razer wants to integrate this into its gaming peripheral business:
The press release states that although the proposed merger is subject to the approval of MOL Global’s shareholders, Razer already has irrevocable undertakings from other major shareholders to vote in favour of the merger which will, when added to its existing 35% stake be enough to push it across the finish line. MOL Global operates one of the largest e-payment networks in Southeast Asia, having handled over US$1.1 billion in 2017. It seems unlikely that Razer is buying it to shut down everything except the zCurrency business so Razer investors can welcome a new business line to the ever expanding revenue streams of the firm, as well as better integration with its existing digital gamer currency network in the future, an aspect which serves to both drive gamer lock-in as well as habit tracking. For now of course, gamers continue to trust in the “For gamers. By gamers.” mantra of the company.




 



 

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