Yahoo! extends reach into Arab world with Maktoob buy

Aug 25, 2009
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.

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, ! 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 , 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.

"This acquisition will accelerate Yahoo!'s strategy of expanding in high-growth where we believe Yahoo! has unparalleled opportunity to become the destination of choice for consumers," said the company's , .

Thanks to the purchase of Maktoob.com and investment in the region, "the Arab world will soon get a Yahoo! experience in Arabic with relevant local language content, programming and services," she added.

Maktoob founder Samih Toukan called the two companies "natural partners."

The partnership, he said, "should help energize the Internet market in the region as a whole.

"We are excited about Yahoo! building a stronger presence in the Middle East and bringing its compelling suite of services to Arab users in Arabic."

Yahoo!, which currently only has about 20 million users in the Arab world, "has held a weak presence in the Arab region, with no dedicated portal to speak of," wrote TechCrunch's Jason Kincaid.

"The deal effectively gives Yahoo! an instant foothold in the market."

After the acquisition is complete, Maktoob.com will become a wholly-owned subsidiary of Yahoo!, the US Internet company said.

But the agreement does not include other Maktoob Group products -- such as Souq.com, online payment website cashU.com and Arabic search engine Araby.com -- which will operate under a new entity, the Jabbar Internet Group.

(c) 2009 AFP

Explore further: Judge approves $450 mn deal in Apple ebook suit

add to favorites email to friend print save as pdf

Related Stories

Yahoo! and Google Resolve Disputes

Aug 09, 2004

Yahoo! Inc. and Google Inc. today announced that the companies have resolved two disputes that have been pending between the companies.

Recommended for you

Dish restores Turner channels to lineup

16 hours ago

Turner Broadcasting channels such as Cartoon Network and CNN are back on the Dish network after being dropped from the satellite TV provider's lineup during contract talks.

'Call of Duty' blasts past $10 bn in sales

Nov 20, 2014

Blockbuster military shooter video game "Call of Duty" has blasted past $10 billion in lifetime sales, propelled by demand for the latest installment in the 11-year-old franchise.

Square's point-of-sale service goes global

Nov 20, 2014

Financial services startup Square is taking aim at cash registers across the globe, making its point-of-sale software available internationally in English, Spanish, French and Japanese.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.