Retail Asia 2018 May 2018 | Page 26

RETAIL TECHNOLOGY Razer announces intention to acquire MOL Global The proposed acquisition provides a springboard for Razer’s entry and accelerated growth in the new business category of e-payments. G aming lifestyle brand Razer announced last month its intention to fully acquire e-payment enabler MOL Global through the acquisition of approximately 65.1% of MOL Global’s issued share capital for a cash consideration of approximately HK$480 million (US$61million), representing the remaining shares in MOL Global not already owned by Razer, by way of a proposed statutory merger. Upon the completion of the merger, MOL Global will become a wholly-owned subsidiary of Razer. While the proposed merger is subject to the approval of MOL Global’s shareholders, Razer has already obtained irrevocable undertakings from other major shareholders to vote in favour of the merger which will, in combination with Razer’s current 34.9% stake, be sufficient to approve the merger. “This acquisition will combine Razer’s zGold and MOL Global’s MOLPoints virtual credits, creating one of the largest virtual credits platforms for gamers in the world,” said Min- Liang Tan, co-founder and CEO of Razer. “South-east Asia represents one of the highest GDP growth regions with one of the youngest demographics in th