Yahoo To Acquire Top Arabic Web Portal

Law360, New York (August 25, 2009, 3:33 PM EDT) -- Yahoo Inc. has struck a deal to acquire, the largest online community in the Arab world, the companies announced Tuesday.

Under the deal, Maktoob will become a wholly owned subsidiary of Yahoo, the companies said.

Ahmed Nassef, Maktoob's current general manager, will still have a leadership role at Maktoob, but will report to Keith Nilsson, head of Yahoo's emerging markets group, they said.

The companies said they expected the deal to close in the fourth quarter of 2009, but did not disclose the financial terms...
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