LINKdotNET, one of the Arab world's Internet services powerhouse, yesterday announced the acquisition of nine leading Egyptian Internet companies in a share swap deal that will raise its current value to 365 million Egyptian pounds.

Through the acquisitions LINKdotNET will own eight new online businesses - ArabFinance.com,CareerMidEast.com, E-Dar.com, El3ab.com, Masrawy.com, Mazika.com, Nilemart.com and Otlob.com. The ninth is Internet Egypt, one of the largest independent ISPs (Internet service providers) in the country and the biggest lease line provider across Egypt.

LINKdotNET will acquire majority shareholdings in each through a stock swap deal including shares owned by the National Telecommunications Co (NTC), Commercial International Investment Co (CIIC) and EFG Hermes.

LINKdotNET plans to merge the different operations of the acquisitions into a single operational structure over the next 12 months.

"In the post-dot.com era, strength, predictability and business efficiency are all essential for longer term Internet growth strategies.

"The LINKdotNET acquisition consolidates nine leading Egyptian Internet companies into one solid operating structure and is a healthy step forward for the region's Internet business," said Naguib Sawiris, chairman of Orascom Telecom and LINKdotNET.

"This move strengthens not only LINKdotNET's leadership position in the Arab world, but also Egypt's overall position as an important participant in the Internet economy."

"The ability to drive and sustain long term growth is the key to any Internet business today. These acquisitions will allow LINKdotNET to diversify its current business portfolio, whilst taking advantage of significant economies of scale," said Khaled Bichara, president and CEO of LINKdotNET.

"The next stage of the Internet growth requires a critical set of 'givens' to ensure survival and success for any Internet related company."