The Yahoo!/Maktoob acquisition deal has officially closed

ACQUISITION

Acquirer: Yahoo!
Web: http://www.yahoo.com
Location: USA, Sunnyvale, CA
Description: Internet services worldwide 
Contact:

Target: Maktoob.com
Web: http://en.maktoob.com/
Location: UAE
Description: biggest online Arab community
Contact: Samih Toukan, Chairman (JIG)

Comment:

Price undisclosed. The group will be rebranding to Jabbar Internet Group (JIG), injected with a $20 million investment, and chaired by Samih Toukan. The deal only involves the Maktoob.com portal and its sub-divisions (including Maktoob Research, Bentelhalal and others), that will become a wholly-owned subsidiary of Yahoo!. The other sister companies within the Maktoob Group which are: Souq.com, CashU, Tahadi, Araby and the newly acquired E-marketing MENA (which will be rebranded to Ikoo) are not part of the deal, and they will go on with business as usual under the group’s umbrella.

Story Link – startuparabia

Database Acquisitions – November 2009

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