MOL buys Friendster for Undisclosed Sum

We receive news from Global Product Director of Friendster, Jeff Roberto, that the 7-year old social networking site has come to an agreement with MOL regarding a 100% buy-out.

Here’s a copy of the email:

Hello,

I’d like to share the following news from Friendster.

Friendster has just announced that it has been acquired by MOL Global Pte. Ltd., an affiliate of leading online payment solutions provider MOL AccessPortal Berhad based in Kuala Lumpur, Malaysia.

Friendster and MOL Global have entered into a definitive agreement under which MOL Global will acquire 100% of Friendster, Inc. Following the acquisition, the operations of MOL and Friendster will 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.

This release is currently being distributed and syndicated throughout the US, Southeast Asia, and globally.

Thanks!
Jeff Roberto
Director, Global Product

There were rumors earlier of this acquisition and the figures were in the vicinity of $100 million.

Friendster also relaunched their site last Friday to feature a new design, logo and interface many people likened to Facebook. It drew mixed reactions but were mostly positive.

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