>> Friday, December 11, 2009
MOL and Friendster say they have entered into a definitive agreement under which MOL Global would acquire 100 per cent of Friendster
Malaysian company MOL Global Pte Ltd, an affiliate of online payment solution provider MOL AccessPortal Bhd (MOL), will buy over popular social networking site Friendster Inc.
MOL's main shareholder is Tan Sri Vincent Tan, the chairman and chief executive officer of Berjaya Corp Bhd.
Following the acquisition, the operations of MOL and Friendster would be combined to create Asia's largest end-to-end content, distribution and commerce network, pairing MOL's offline retail channel partners and payment platform with Friendster's large online footprint, social network and user community in Asia.
MOL did not say how much it would pay for Friendster, but Reuters quoted a source as saying that Friendster would be sold for at least US$100 million (RM340 million).