Buyout (LBO, MBO, MBI) • Internet Software and Services

The Abraaj Group Acquires Maktoob.com

On June 14, 2005, asset manager The Abraaj Group acquired internet software and services company Maktoob.com

Acquisition Context
  • This is The Abraaj Group’s 1st transaction in the Internet Software and Services sector.
  • This is The Abraaj Group’s 2nd transaction in Jordan.
Investment Fate
  • Maktoob.com was sold to a strategic buyer in 2007.
  • Maktoob.com was divested to a consortium of strategic buyers in 2010 for 164M USD.

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M&A Deal Summary

Date June 14, 2005
Target Maktoob.com
Sector Internet Software and Services
Buyer(s) The Abraaj Group
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Maktoob.com

Amman, Jordan
Maktoob is a internet portal in the Arab world, providing a variety of online services to millions of users, including the most visited Arabic-language auction facility (souq.com), the first Arabic-language search engine (Araby.com), an interactive TV joint venture with MBC (Maktoob TV), the largest Arabic matrimonial website (Bentelhalal.com), the leading online Arab sports community (Sport4ever.com), with Arabic and English web-based email and chat rooms.
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Buyer Overview 1

Buyer

The Abraaj Group

Dubai, United Arab Emirates

Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.


Deal Context for Buyer #
Overall 9 of 182
Sector: Internet Software and Services 1 of 1
Type: Buyout (LBO, MBO, MBI) 7 of 144
Country: Jordan 2 of 3
Year: 2005 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-13 Jordan Aircraft Maintenance

Amman, Jordan

Joramco is a leading MRO provider based in Amman, servicing full-service and low cost carriers across the Middle East, North Africa, Europe, Asia Pacific and CIS. The company is structured around three divisions: hangars, shops and other services, offering traditional MRO work such as heavy maintenance, supplementary structural inspections, airframe repairs, avionic upgrades and ageing aircraft inspections.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-23 Aramex

Dubai, United Arab Emirates

Aramex is a logistics and courier provider with a network of 132 offices in 34 countries. With its comprehensive multi-product offering, Aramex is a one-stop total transportation solutions company for retail and wholesale customers worldwide. Aramex was founded in 1982 and is based in Dubai, United Arab Emirates.

Sell -