Maktoob.com and Aramex acquire leading online shopping site

As per the terms of the acquisition agreement, Maktoob.com commands a 51 percent stake in the company while ARAMEX International holds 49 percent. Top officials of ARAMEX International and Maktoob.com pointed out that the acquisition would allow Adabwafan.com to harness the aggressive marketing strengths and penetration of Maktoob.com along with the superior logistics capabilities of ARAMEX International, ultimately benefiting consumers in the region.

"The Adabwafan.com acquisition provides exceptional advantages to our consumers because for the first time they will have a single, unified foundation that leverages the industry's best portal infrastructure and content management with ARAMEX International's well-established logistics network in the region," explained Toukan. "With the combination of our powerful strengths, Adabwafan.com is now uniquely positioned to reach out to a wider market of consumers in the Arab world."

Based in Lebanon, Adabwafan.com has evolved as a popular destination for shoppers of Arabian cultural items, offering a diverse mix of rich Arabic titles and resources that includes books, music, videos, calligraphy, toys, software, arts and crafts. The book section alone carries more than 300,000 Arabic titles.

Osama Fattaleh, Vice-President (Middle East) of ARAMEX International, said that the purchase further expands ARAMEX's presence in the e-commerce space and lays the foundation for a total business solution that incorporates its proven logistical support into a high-traffic shopping destination. Furthermore this investment is in line with our expansion into the book and publication distribution business in the region, he added.

Explaining that the deal would allow each party to focus on what they do best, Fattaleh said: "We aim to leverage our delivery and distribution capabilities to enhance the service Adabwafan.com offers to its existing and future customers. Adabwafan.com also adds a new dimension to our presence in the Middle East while dramatically expanding our expertise and value."

Fattaleh pointed out that boosting the emerging e-commerce industry in the Middle East had always been one of ARAMEX International's primary goals for the new business environment. "As we explored new strategies to firmly underline our leadership in the transportation industry, we found out that Maktoob.com shared our vision of what Adabwafan.com really could be. Now, we look forward to working with Maktoob.com to continue to deliver on that vision and to make Adabwafan.com an even more powerful e-commerce portal," he added.

The latest development is among a series of Maktoob.com's latest acquisitions that have propelled the company as the leading player in the region's Internet industry and prepared it for an exciting new era of unprecedented growth. Toukan added that since its establishment, Maktoob.com had always believed in promoting and building portals that would allow the widespread use of the Internet and e-commerce in the region.

"Maktoob.com has always moved quickly to ensure that it ties with the best available business partners that rapidly boost our revenue potential and new customer acquisition. With this in mind, we anticipate launching a series of customer-focused services that will allow us to integrate content and services from other parts of the Maktoob.com network," Toukan said.

Pointing out that the combined resources of Maktoob.com and ARAMEX International would allow Adabwafan.com to execute its expansion more aggressively, Toukan noted: "A partnership of this nature allows Adabwafan.com to project itself into the global marketplace much quicker than it could otherwise have achieved on its own. The Maktoob.com family of companies and ARAMEX International are terrific channels for us to grow our revenues, our global presence and a great place for our people to grown and execute our business plan within the context o a highly dynamic and vibrant industry."