This is big news today. Friendster has accepted a buyout from Malaysia-based MOL Global controlled by Tan Sri Vincent Tan.

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.

MOL was recognised as one of Asia Pacific’s fastest growing technology companies in the Deloitte Technology Fast 500 Asia Pacific Awards in 2005 and 2006 and has won a Merit Award for the Best of E-Commerce Applications in the MSC Asia Pacific ICT Award.

Let us wait and see how things work out.

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