Press News

Budapest, May 2, 2006

Magyar Telekom, the leading Hungarian telecommunications service provider, announced on 28 April that T-Online, its fully owned subsidiary, signed a contract to gain control of iWiW Kft., the leading Hungarian online social network, for a purchase price of nearly EUR 4 million.

The WiW (‘who is who’) online social network started in April 2002 with the aim of providing an online forum for existing friendships and relationships. Thanks to the continuous increase in its user base and popularity, the number of registered users reached 640,000 by Spring 2006. At that time, the portal was revamped under the name of iWiW and became available in 16 languages, featuring several new services. The system registers over 35 million relationships between members.

Based on the data of Webaudit, the portal has more than 400,000 visitors per day, making it the fourth most visited web page in Hungary.