Middle East Financial Portal AME Info Bought by Emap For $29 Million

(via A:C) Missed this one earlier this week: AME Info, one of the biggest English-language financial and business news portals in Middle East, has been bought out by the B2B division of UK-based Emap. The price: $24 million, with further deferred cash consideration payable of up to $5 million dependent on performance by the end of this year.
AME Info, based in Dubai and founded in 1996, will sit alongside Emap’s MEED (Middle East Economic Digest), its own business publication. AME Info employs 20 people, all of whom will be transferring to Emap.
Among the competitors in the space are Zawya.com, and TradeArabia.com.
Some more info in the release here.

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