Home » Investment in Middle East »

|| UK media firm acquired Dubai-based business portal for $24 million

emap-ameinfo.jpgUK-based media group Emap has acquired Middle Eastern online business portal AME Info for $24 million.

AME Info is based in Dubai and was founded in 1996. AME Info was privately owned with HSBC Private Equity Middle East as a minority investor.

More details follows:

Global media group, Emap plc, has acquired Middle Eastern online business news and information service, AME Info FZ-LLC, for a $24 million (£13m) cash consideration through its B2B division, Emap Communications (EC).

The deal includes a further deferred cash consideration payable of up to $5m (£2.7m) dependent on performance.

AME Info is based in Dubai and was founded in 1996. It covers all aspects of business news in the Middle East region providing real-time information across a range of industry segments.

AME Info will sit alongside Emap’s MEED – Middle East Economic Digest – the region’s leading business publication. AME Info employs 20 people, all of whom will be transferring to Emap.

It is the premier Middle East online business news and information service and delivers daily news on 5,000 of the biggest companies in the region and content on 11 daily vertical newswires.

It is available in both English and Arabic and in March 2006, the site had 752,438 unique users (source: ABC Electronic). AME Info was privately owned with HSBC Private Equity Middle East as a minority investor.

This acquisition is in line with Emap’s aim of targeting faster growth media platforms.

It also provides EC with a broad and diverse platform to develop existing products and to accelerate the pace of new product development in the Middle East.

EC’s chief executive, Derek Carter, said: “Working with the extremely professional AME Info team it is our intention to ensure that the business continues to grow, reflecting the rich diversity of this tremendously exciting marketplace.”

Previous Post: MTV Enters the Middle East
Next Post: Financial Times Chief Columnist: I Admire Dubai

More from Investment in Middle East ...

  JPM, London fund invest $20 million in Dubai e-commerce firm (September 2012)

  Souq.com merges private shopping portal Sukar.com in its operations (April 2012)

  UAE early stage investor Saffar Holding to exit its investment in Zawya (April 2012)

  How to sell your Middle Eastern media firm - 7 lessons from Flip Media acquisition (February 2012)

  Publicis Groupe acquired Dubai-based digital agency Flip Media (February 2012)

  Carlyle Group acquires 42% stake in Domino's Pizza MENA master franchise (December 2011)

  Middle East e-commerce website MarkaVIP raised $5 million (December 2011)

  Jabbar acquired remaining stake in Cobone.com from GBG to become the sole owner (July 2011)

  Naspers acquired stake in Dubai-based classified website (June 2011)

  Intel Acquires Egypt-based SySDSoft (March 2011)

|| About Us

Established in 2007, DubaiBeat.com provides insight, analysis and research on Middle East investors.

We cover different asset class investors like private equity, venture capital, hedge funds and real estate investors from the Middle East and broader MENA region.

|| Subscribe

Copyright 2007-2017 DubaiBeat.com    Sitemap  |  Terms  |  Privacy Policy

Follow us: RSS Feed   Facebook    Twitter