Place/Date: Singapore - February 22nd, 2021 at 9:18 pm UTC · 2 min read
Contact: Paul Kim, Source: Mogu Technologies
Japanese group DHG LTD (Daiko Holding Group) has announced the acquisition of Singapore-based smart router company Mogu Technologies PTE LTD (‘Mogu’), effective January 18, 2021. The acquisition includes the mobile app development, consumer home router, and cryptocurrency (MOGX) business units of Mogu. DHG, who also operates the licenced Japanese exchange BitGate and the Planet (PLA) Token, welcomes both Mogu and MOGX to the DHG portfolio.
With the upcoming release of the Mogu Smart Router Version 2 in Japan, the acquisition of Mogu positions DHG as a major competitor in the wireless internet sector. DHG hopes to provide both internet access and router hardware distribution to consumers throughout Japan.
In 2018, Mogu Technologies released the Mogu Smart Router Version 1 in mainland China with plans to introduce subsequent versions throughout Asia. With the emergence of SARS-CoV-2 (COVID-19), Mogu shifted focus to the Japanese market, choosing DHG as their sole distribution partner throughout Japan.
As an organization with expertise in both logistics and cryptocurrency, DHG is uniquely qualified to launch the Mogu brand in Japan and MOGX throughout Asia. DHG CEO Akio Ito also commented:
“DHG’s acquisition of Mogu provides a major growth opportunity through an extended service offering for our clients. As consumers begin their transition to a unified internetsolution, we will be best positioned to support them on that journey.”