The World: Dubai - Emap Communications purchases Ame Info for $24m

Emap Communications, the business-to-business arm of the publishing group, has acquired Ame Info, an online news and information service based in the Middle East.

The company has made an initial payment of $24 million, which could increase by a further $5 million depending on the performance of the business up to 31 December 2006.

Derek Carter, the chief executive of Emap Communications, said the company was targeting fast-growth media companies and the acquisition provided Emap with a broad and diverse platform to develop existing interests and accelerate product development in the Middle East.

Ame Info publishes business news in the Middle East across a range of industry sectors.

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