Naspers joins MXit frenzy

MXit is an instant-messaging service for mobile phones. It allows users to send and receive text messages using a mobile phone at a fraction of the cost of an SMS. MXit currently has about three million users.

"MXit entertained investment offers locally and internationally for more than 12 months and we set ourselves strict criteria in terms of investment, culture and synergies," MXit founder and CEO Herman Heunis said.

"We are very excited about teaming up with a South African company that has such an extensive global footprint, not only in media but other technology sectors."

Commenting on the acquisition, Naspers global Internet CEO Antonie Roux said: "MXit has a wonderful product and an impressive entrepreneurial management team. We are delighted at the prospect of working with them."

• Fin24 is part of 24.com, a Naspers group company.