Sold! AMEInfo to EMAP for $29 million
July 4th, 2006 Zeid Nasser (Admin)
This is big news and proof of the value of regional online media brands.
The Middle East’s business news portal, AMEInfo.com, has been sold to UK publishing goliath EMAP for $29 million.
Klaus Lovgreen, CEO of AME Info, has said that “The deal will provide us with the backing and scale to expand, as well as an enhanced back-room engine – including IT, administration and human resource departments.”
In the last ABC audit, in March 2006, AME Info was reported to have 752,438 unique users. User numbers have grown by more than 200 per cent in the last year.
AME Info, founded in 1996, is based in Dubai and employs 20 people.
Visit AMEInfo.
Entry Filed under: Online, Regional
Technorati Tags: AMEInfo, Dubai, EMAP
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