Yahoo! Inc. has announced a definitive agreement to acquire Maktoob.com, the leading online community in the Arab region with more than 16.5 million unique users. The acquisition is part of Yahoo!’s larger strategy to grow its business throughout the world’s emerging markets by connecting consumers with content and services in their local language. Financial terms were not disclosed, and the transaction is expected to close in the fourth quarter of 2009. Latham & Watkins advised Yahoo! on the transaction with a cross-border team led by corporate partner Nick O'Keefe in Dubai, with tax partners Laurence Stein and Nicholas DeNovio in the US, employment partner Stephen Brown in the UK, corporate partner Ora Fisher in the US, and corporate associates Kai Schneider, Arjun Ahluwalia, Andrew Kelly, Murtaza Sutarwalla and Eyad Latif in Abu Dhabi and Yun Huh in Silicon Valley. Greenburg Traurig LLP provided advice on intellectual property matters.