NEWS

MXit sold to World of Avatar

Stellenbosch based World of Avatar has agreed to buy 90% of Naspers owned social network MXit for an undisclosed amount.

World of Avatar CEO Alan Knott-Craig Jnr will take over from MXit founder Herman Heunis, who will no longer be involved with the company.

MXit is reportedly Africa's largest mobile social network, with over 43 million user accounts.

There will be no change to the 10% share of the company held in a staff trust.

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