DHG LTD.,(Daiko Holding Group), a global communications group operating from Japan, announced the acquisition of Singapore-based smart router company Mogu Technologies PTE LTD ('Mogu'), effective as of January 18, 2020. The acquisition includes the mobile app, consumer smart router, and cryptocurrency (MOGX) business units of Mogu. DHG, who also operates the licenced Japanese crypto exchange BitGate and the Planet (PLA) Token, welcomes both Mogu and MOGX to the expanding DHG portfolio.
In 2018, Mogu Technologies successfully launched the Mogu Smart Router Version 1.0 in mainland China, with plans to expand throughout Asia in 2020. After the emergence of SARS-CoV-2 (COVID-19), Mogu shifted focus to the Japanese market, partnering with DHG for distribution based on the organization's expertise in both logistics and communications in Japan.
As the controlling stakeholder in the Japanese cryptocurrency exchange, Bitgate, it was a natural progression for DHG to continue its goal for the mass application of blockchain and crypto in everyday Japanese life through the acquisition of Mogu. Now with the upcoming release of the Mogu Smart Router Version 2.0, DHG will also gain a competitive advantage in the wireless internet service provider (WISP) sector.
DHG LTD. CEO Akio Ito commented, "DHG's acquisition of Mogu provides a major growth opportunity through an extended service offering for our clients. As consumers begin to transition cryptocurrency into their daily lives, we will be best positioned to support them on that journey."
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