Yahoo Inc. will acquire Maktoob.com, an online community in the Arab world, with more than 16.5 million unique users.
Terms were not disclosed.
Following the acquisition, Maktoob.com will become a wholly-owned subsidiary of Yahoo. Ahmed Nassef, the current general manager of Maktoob.com, will continue to lead the operation.
The transaction is expected to close in the fourth quarter.
At that point, the remaining Maktoob companies
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