Middle East news website AMEInfo up for sale
EMAP Middle East, which bought the business portal for $24 million in 2006, looks to offload it.
March 22, 2010 3:47 by Ben Flanagan
Dubai-based business website AMEInfo is up for sale by owner EMAP Middle East, which bought the portal in 2006 for a reported $24 million.
A statement issued by the company says it “is reviewing strategic options for the AMEinfo.com business which may include its sale.”
AMEinfo has almost two million unique users a month across the GCC and MENA region, according to its latest audit. The site is populated largely by press releases and other free content. Supported solely by advertising, the website is free to use.
Lara Boro, EMAP Middle East’s chief executive, says the company’s primary focus is in developing paid-for business intelligence brands, such as the business magazine MEED and its associated research services.
“The objective of this strategic review is to explore options for the AMEinfo.com business. That could include its sale if we can find the right buyer for what is one of the region’s leading digital B2B digital platforms. AMEinfo.com’s business model is different from our focus on specialist paid-for content in MEED,” says Boro in the statement.