MOL, Asia’s leading e-payment service provider for games and social networks has acquired Zest Interactive in Thailand, the Malaysia-based company announced yesterday. In short, it is a good move to consolidate power in the Thailand e-payment market.
Similar to MOL, Zest Interactive is a game distributor and payment gateway company, with a sizable 40,000 physical payment channels including cybercafé and retail outlets in Thailand. In contrast, MOL Thailand has 6,500 cybercafé and 60,000 payment locations in the country. Both companies are about the same size and with the acquisition now a done deal, MOL has significantly strengthened its foot hold in the country.
Preecha Praipattarakul, Chief Executive Officer of MOL Thailand, said:
“MOL Thailand has grown by leaps and bounds in the last 12 months. We have recorded high growth on our payment volume, in the number of users and we have included more games and content to our payment platform. MOL Thailand and Zest Interactive have always had an excellent relationship. Now with this acquisition, we will join forces, pooling our experienced teams and best practices to strengthen our joint capabilities and lead the gaming market, offering further value to our customers in Thailand with a wide range of localized payment options and global popular content.”
Zest Interactive will retain its brand and operate as a separate entity. It will also have more products available for its customers, including Facebook credits and Zynga game cards which MOL is the exclusive distribution partner.
As part of the deal, Paul Sarab, who founded Zest Interactive in 2006 will join MOL Thailand as COO. The acquisition sum wasn’t disclosed.
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
