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This acquisition is in line with Emap's aims of targeting faster growth media platforms. It also provides Emap Communications with a broad and diverse platform to develop existing products and to accelerate the pace of new product development in the Middle East.
Derek Carter, Chief Executive of Emap Communications said,
"We are delighted that the highly regarded AME Info is now part of our growing position in the Middle East. Working with the extremely professional AME team it is our intention to ensure that the business continues to grow, reflecting the rich diversity of this tremendously exciting marketplace."
Richard Baker, Managing Director of Emap's operations in the Middle East, said: "Bringing AME Info into the stable of Emap brands in the region enables us to pursue a number of media-neutral opportunities in the region, which is enjoying a growth period of unprecedented levels.
"There are clear brand and cultural synergies between MEED and AME Info, Both organisations are held in high regard by the business community and this gives Emap a very solid foundation for expansion and growth in the region."
Klaus Lovgreen, CEO of AME Info, explained that the acquisition would significantly expand AME Info's operations base in the Middle East.
He said: "AME Info is a brand that has grown with the region, and this international investment has proved that brands in the Middle East are on a par with any around the world."
"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."
AME Info had 752,438 unique users (as audited by ABC March 2006) and user numbers have grown by more than 200 per cent in the last year. The site specialises in providing integrated content across online media, radio and broadcast, as well as marketing and advertising solutions.
Posted by Anne-Birte Stensgaard, Senior News Editor
