Add-on Acquisition • Internet Software and Services

Tiger Global Management Acquires Maktoob.com

On December 31, 2007, Tiger Global Management acquired internet software and services company Maktoob.com from The Abraaj Group

Acquisition Context
  • This is Tiger Global Management’s 1st transaction in the Internet Software and Services sector.
  • This is Tiger Global Management’s 1st transaction in Jordan.
Investment Fate
  • Maktoob.com was divested to a consortium of strategic buyers in 2010 for 164M USD.

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M&A Deal Summary

Date December 31, 2007
Target Maktoob.com
Sector Internet Software and Services
Buyer(s) Tiger Global Management
Sellers(s) The Abraaj Group
Deal Type Add-on Acquisition

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

Tiger Global Management

New York, New York, United States

Category Company
Founded 2001
Sector Financial Services
DESCRIPTION

Tiger Global Management LLC is a hedge fund company it invests in the public equity markets across the globe.


Deal Context for Buyer #
Overall 1 of 2
Sector: Internet Software and Services 1 of 2
Type: Add-on Acquisition 1 of 1
Country: Jordan 1 of 1
Year: 2007 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-26 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.

Sell $164M

Seller Profile 1

SELLER

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 Seller #
Overall 3 of 31
Sector: Internet Software and Services 1 of 1
Type: Add-on Acquisition 1 of 14
Country: Jordan 1 of 1
Year: 2007 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-01 P.T. Pamindo Tiga T

Indonesia

Pamindo Tiga T is a manufacturer of various steel parts and components, primarily for the automotive industry. With more than 20 years’ experience in Indonesia, Pamindo Tiga T is recognized as one of the leading local manufacturers in metalworking and has an established reputation for quality and efficiency. The company owns two factories: Pulogadung and Tangerang.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Tadawi Group

Riyadh, Saudi Arabia

Tadawi was established in Riyadh in April 2005 as the result of a merger of its retail (Atlas Pharmacies) and wholesale (Dar Marwa) operations in the pharmaceutical sector. Tadawi is today the Kingdom's largest retailer and wholesaler of pharmaceutical products with over 470 pharmacies across the country. The wholesale business is the largest in the KSA and serves almost 50% of all retail outlets. The Company's business model is unique in that no pharmaceutical retailer in the Kingdom has a similar dominant position in the wholesale space.

Buy -