Media News - Wednesday, August 26, 2009
Yahoo! to reach millions of Arab net users with Maktoob buy
US Internet giant Yahoo! said Tuesday it had signed a deal to purchase popular Jordan-based web portal Maktoob, expanding its reach to millions of consumers across the Arab world. The purchase, the terms of which were not disclosed, would be completed in the fourth quarter, Yahoo! said in a statement. Technology blog TechCrunch.com, citing unnamed sources, estimated the value of the transaction at 85 million dollars. Maktoob was founded in 2000 and claims more than 16.5 million users in countries like the United Arab Emirates, Kuwait, Egypt and Saudi Arabia. The portal "reaches one in three people online throughout the Arab world," the companies said. Through the deal, Yahoo! will offer Arabic-language content for the first time and versions of its products and services, including instant messaging and email, in Arabic. (France 24)
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