Kualalumpur, Malaysia - Finally Friendster has revealed who the Asian-based company that acquires social networking site. The buyer is a company from Malaysia.
A company called MOL Global Pte. Ltd. has been announced as the company that will acquire Friendster. MOL Global is an affiliate of MOL AccessPortal Berhad (in short: MOL), a company that provides online payment services.
Global MOL will buy 100 percent of Friendster sharesheet. After the acquisition is completed later, Friendster will be moved to Malaysia and operations are combined together with MOL. But Friendster's officea will keep exist in several areas, including the United States, Philippines, Malaysia and Singapore.
Richard Kimber, chief executive officer of Friendster, expect this acquisition will have an impact both on the industry. "This combined company will provide financial support, retail distribution and e-commerce infrastructure needed by Friendster to accelerate our strategy and provide relevant experience locally in Asia," Kimber said.
After the acquisition, Richard Kimber will occupy the position of the Non-Executive Chairman. While the position of CEO will be held by Ganesh Kumar Bangah, President and CEO of MOL.
Title :
Friendster is Sold Out
Description : Kualalumpur, Malaysia - Finally Friendster has revealed who the Asian-based company that acquires social networking site. The buyer is a com...
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