Looks like MOL is on the acquisition path, fresh from the acquisition of friendster. I suppose this purchase will extend their reach and presence across Asia.
MANILA, Philippines, June 1, 2011 – MOL AccessPortal Sdn Bhd (MOL), a leading payment service provider for online games, virtual worlds and social network in Asia, today announced that it has acquired 100% of LoadCentral, Philippines’ leading prepaid payment platform.
The acquisition will create synergy for both organizations and enhance growth prospects.
LoadCentral’s leading position in providing prepaid payment platform to consumers in the Philippines will give valuable access to new channels for delivery of MOL’s products. Following the acquisition, the combined company becomes the largest payment provider for prepaid services for the growing online gaming market in the Philippines.
LoadCentral, which operates under the company name Uniwiz, distributes mobile air-time and game credits, using both scratch cards and electronic top-ups through an expanding and profitable network of some 7,400 convenience retailers and Internet cafes across the Philippines. LoadCentral provides payment services for more than 1,500 popular online games. Prior to the acquisition, LoadCentral was a distributor of MOL’s range of payment services for online games. LoadCentral will continue to trade under its brand name following the acquisition.
Founded in 2000 and headquartered in Malaysia, MOL is one of the largest payment service providers with more than 500,000 physical and virtual payment channels in Asia. MOL, which acquired the pioneer social networking site Friendster in December 2009, has also announced several major partnerships with global leading Internet companies in the last year. These strategic partnerships with companies such as Facebook, Paypal and Zynga launched new monetization services for these companies in Asia. MOL also partners with some of the leading payment channel partners across the region including banks, telecommunications operators, cybercafés, retail outlets, convenience stores, among others.
“The Philippine online gaming and social networking markets are experiencing spectacular growth. These are now part of Philippines’ dynamic digital entertainment and media industries. Our vision is to make it easy and safe for consumers in the Philippines to acquire virtual currency for their digital lifestyle,” said Ganesh Kumar Bangah, Chief Executive Officer of MOL. “With the support of the seasoned and highly capable executive team at LoadCentral, I am confident that our complementary businesses will create synergy and strengthen our position in the rapidly expanding Philippines prepaid service market. This acquisition reflects MOL’s continued commitment to invest in key markets across Asia.”
Jeff Boone, LoadCentral’s General Manager, said: “We identify with MOL’s vision of serving the e-commerce infrastructure needs of our customers. We have been seeking to expand our business in the Philippines and are pleased to have attracted a company specializing in an exciting high growth segment of our market. We are excited that LoadCentral can further grow the business and be part of MOL.”
About MOL AccessPortal Sdn Bhd
MOL AccessPortal Sdn Bhd (MOL) is one of Asia’s leading payment service providers. MOL is a MSC Malaysia Status Company that operates and develops payment system. MOL handles over 60 million transactions with an annual payment volume of more than US$300 million. MOL leverages on a network of more than 540,000 physical payment collection points across more than 75 countries. It is also linked online to more than 88 banks in 9 countries worldwide. MOL is recognized as one of the Asia Pacific’s fastest growing technology companies in the Deloitte Technology Fast 500 Asia Pacific Awards 2011. MOL is headquartered in Malaysia with offices across Asia Pacific. For more information, visit www.mol.com.
About Uniwiz Trade Sales, Inc. and LoadCentral
Uniwiz Trade Sales, Inc. is the developer and owner of LoadCentral, Philippines’ most successful distribution solution provider for all prepaid services including e-Loads, physical call cards, prepaid Internet cards, online gaming cards, satellite cards and others.For more inforation on LoadCentral, visit: www.loadcentral.org.
MOL is a trademark of MOL AccessPortal Sdn Bhd in Malaysia. All other product and company names herein may be trademarks of their respective owners.