ReportsYahoo-Maktoob deal 'could boost ME online sector'
Yahoo acquisition of Jordan-based Maktoob, the largest Arabic multi-service online community, for a rumoured figure of up to $100m, could well be a catalyst for the region internet market and lead to a boost for the online media sector across the whole region, according to a report.
This is the biggest online media deal in the history of the Middle East, stated A T Kearney, a leading global strategic consulting firm.
"This is a ground-breaking deal for Yahoo and Maktoob. Yahoo now has an Arabic presence on the web and Maktoob can now call upon the resources of one of the world leading web portals and biggest online advertising providers, said Dr Dirk Buchta, senior partner and managing director of A T Kearney in the Middle East.
While Maktoob has grown from just over 2 million users in 2002 to over 16 million today, Yahoo user growth rate has been slowing in its core developed markets in recent years, losing the top spot in the US to Google in 2008. Recent A T Kearney research showed that the Middle East online media sector is growing.
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