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Yahoo! recognizes opportunities in Middle East

Although the value of the deal was not disclosed, it appears the acquisition of Maktoob is a timely one for Yahoo!, as it positions itself to grow its emerging markets segment fueled now by one of the world’s youngest, most dynamic, and highest-growth regions. A surge in internet usage in the Middle East is driving annual growth in on-line advertising of 25-50%, according to Yahoo’s Sr. VP of Emerging Markets.

clipped from online.wsj.com Yahoo Buys Maktoob Arabic Portal DUBAI (Zawya Dow Jones)–Yahoo Inc. (YHOO), said on Tuesday it agreed to buy Arabic online portal Maktoob.com as it seeks to add the Middle East to its expanding strategy for the fast-growing emerging markets. Yahoo has 44 million users a month in the North Africa and Middle East region, Nilsson said. Maktoob.com has over 16 million users, according to the company. Yahoo and rival Google, which already has Arabic internet services, are competing to tap the Arab World’s fast-growing population of over 320 million and high per capita gross domestic product, one of the highest in the world. “Saudi Arabia and Egypt offer tremendous size and growth opportunities that we will be looking at in addition to other countries in the Middle East,” Nilsson said.