MOL Access Portal, the Malaysia-based company that could be worth up to RM1 billion if listed, will be acquiring United States-based Rixty Inc.
In a media invitation to the press in Malaysia, MOL said:
This signing ceremony between MOL and Rixty for the acquisition of equity interest in Rixty will further strengthen MOL’s ownership interest in Rixty’s operations in United States and Brazil. MOL is excited to announce that Rixty’s payment services are now available throughout United States and Brazil. With this acquisition, online content owners and game players will get the chance to use MOL and Rixty’s payment services at all retail stores. Online game publishers and website merchants use Rixty to allow online purchasers to pay cash at retail stores.
Rixty, a San Francisco-based company that develops an alternative payment platform that allows domestic and international users to spend cash and coins for multiplayer online games, casual games, virtual worlds and all types of digital content. Rixty consumers can pay without a credit card and without exposing confidential information by converting cash to Rixty’s value at 75,000 stores in the US or nearly 500,000 locations worldwide. Rixty supports over 1,000 popular online games, social networks and digital content sites.
MOL acquired Friendster back in 2009 at a rumoured value of US$100 million. Similar to Rixty, MOL has a network of over 500,000 physical and virtual payment channels across 75 countries worldwide to collect payments for content and services. Its core markets are Malaysia, Singapore, Indonesia, Philippines, Thailand and India. MOL also has relationships with over 70 online game publishers that have a suite of over 200 online game titles.
The signing ceremony between MOL and Rixty is expected to take place this upcoming Tuesday. The acquisition will help MOL to have a better presence especially in Latin America and the U.S.