Dubai: Yahoo Inc., the second largest internet search engine in the US, will acquire the Arab-based portal, as it makes its entry into the region.

The deal will close in the fourth quarter of 2009, with Yahoo translating its products into Arabic, also a first for the company.

Of the Maktoub Group's businesses, only the web portal and its research arm will be taken over by Yahoo. The rest of its components that include e-commerce site, will be re-branded into a company called Al Jabbar.

The companies announced the venture on Tuesday at a press event, without disclosing the amount for the acquisition.