By Dania Saadi

Of ZAWYA DOW JONES


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.

"This deal reinforces Yahoo's commitment to invest in emerging markets," Keith Nilsson, senior vice president of emerging markets for Yahoo, said at a press conference in Dubai, United Arab Emirates.

"With online user penetration and advertising penetration at its infancy, we see tremendous growth potential in this region," he said.

Nilsson and Maktoob officials declined to disclose the value of the deal.

Yahoo Inc. is looking at further expansion in emerging countries, which are the company's fastest growing regions. Yahoo 's emerging markets include South East Asia, India, Latin America, Africa and the Middle East.

The Sunnyvale, Calif.-based company said in July its second-quarter revenue fell 13% as its online advertising business continued to deteriorate. 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.

Link externo: UPDATE:Yahoo Buys Maktoob Arabic Portal,Boosts Emerging Mkts - WSJ.com

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