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T-Online buys networking site iWiW for €4 mln

T-Online Hungary Zrt, the ISP unit of Magyar Telekom Nyrt, signed a contract on April 28 to acquire popular Hungarian social networking site iWiW for a price of almost €4 million, Magyar Telekom announced on the website of the Budapest Stock Exchange (BÉT) late on Friday.

iWiW has 400,000 visitors a day according to Webaudit, making it the fourth most visited Hungarian website. iWiW has more than 500,000 registered users with more than 20 million registered connections, the announcement said.
The site was launched in April 2002, and already had 120,000 registered users by October 2005, when owner iWiW Kft revamped it to include a series of new services and made the site available in 16 languages.