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MXit Gets Sold
| Technical by Staff ReporterFor an undisclosed amount to World of Avatar
Herman Heunis, founder of South Africa’s largest social mobile network, and MIH Holdings have sold their entire shareholding in MXit to World of Avatar.World of Avatar have agreed to acquire 90% of the Stellenbosch based MXit for an undisclosed amount. The remaining 10% of the shares remain in the hands of the staff in the form of a trust set up by Heunis.
MXit currently has more than 43-million registered users worldwide, making it not only the most popular mobile in South Africa but in the whole of Africa, MXit said in a press release.
Once the sale is finalised World of Avatar’s founder Alan Knott-Craig Junior will take over as head of MXit.
There are reportedly no plans to change how the service works for users.
“In the short-term, we want MXit to maintain and grow its position as the largest mobile social network in Africa,” said Knott-Craig.
“This means a focus on consolidating and strengthening the core of the business before we move to implement the long-term strategy.”
Source: www.bizpremises.co.za
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