Branchburg, N.J. - Magnitude Information Systems, a publicly traded holding company, announced that it has completed its acquisition of Kiwibox.com, a New York-based social network for teens with 1.8 million members.

The site was launched in 1999, and focuses on user-generated content.

In connection with the acquisition, Magnitude has received a $3 million equity investment from Swiss investment firm Tell Capital.

"We can now initiate Kiwibox's website re-launch plan," said Edward Marney, CEO of Magnitude, commenting on the deal.

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