MOL Global to acquire Friendster

US social networking site, Friendster, is to be wholly taken over by Malaysian digital-payment development company, MOL Global, resulting in the most spectacular end-to-end content, distribution and commerce network in Asia, coupling Friendster's high traffic, social network and Asian user-ship with MOL's offline retail channel and payment platform.

Pricing details are yet to be released by MOL, which claims expertise in Southeast Asia for Friendster's relaunched site and logo, inclusive of specialized segments in digital micropayments and games- it networks with 500,000 physical and virtual payment outlets across 75 nations, focusing on Malaysia, Singapore, Indonesia, Philippines, Thailand and India and maintains co-operation with more than 700 online game publishers who accredit 200 online game titles.

This merger leverages Friendster with financial backing, retail distribution and e-commerce required to make it more user-friendly to its Asian audience.

The Friendter search for a buyer surfaced in July 2009 when jointly with Morgan Stanley it announced its intent to sell to a buyer who desired quick access to the Asian social networking scene. Friendster commenced formal collaboration with MOL in July 2009, when it engaged the latter to develop and integrated payment platform for The Friendster Wallet and The Friendster Gift Shop.