Africa.com, a media holding company, has acquired the news portal iAfrica.com. The news portal was owned by MTN and Primedia in South Africa.
The purchas purchase price and terms of acquisition agreement were not disclosed.
"The acquisition of iAfrica creates a next generation South African media platform with a global reach," says Clarke. "By acquiring iAfrica, we are able to combine editorial, technology, and marketing resources, bringing the benefits of more original content and better site performance to readers of both iAfrica and Africa.com," said Teresa Clarke, Chairman and CEO at Africa.com.
Africa.com, in a statement, added that the acquisition of iAfrica.com builds on the company's strength in running the news website and the business publisher's network, a group of nearly fifty business content publishers on the continent who have joined Africa.com to create a digital audience of over 15 million influential business people. Clarke will also serve as executive editor of iAfrica.com once the acquisition is concluded.
"Africa.com is known for its creative content in the form of slideshows, videos, and infographics, and we will bring these content forms to iAfrica," said Debra Winter, COO at Africa.com.
Africa.com says it has already started with the re-branding of the iAfrica.com news portal.