Investment In Brief


- Local social media aggregator startup has sold a majority stake to MIH Print Africa, a division of the Naspers group, it was announced today, Friday, 5 September 2008.The acquisition comes shortly after the US$10 million investment by Naspers in Singapore-based wireless community company Buzzcity.

- The Johannesburg High court has ruled that Sony SA can move ahead with the R380-million tender to supply the SABC with four high definition (HD) outside broadcast (OB) vans for the 2010 soccer World Cup. An application was filed by South African company Digital Horizons to have the tender awarded to Sony SA by the SABC set aside on the basis that the company is foreign and not BEE-complaint. Digital Horizons lost the court case. Lawyers for Digital Horizons say they will file for a review process, which will attempt to show that the administration of a tender by the SABC was unjust and unfair.