Dubai’s Diwanee sells majority stake to Webedia
French digital publishing firm, Webedia has acquired Dubai-headquartered digital media company, Diwanee for an undisclosed amount, Campaign ME has reported. Founded in 2009, Diwanee serves one of the largest online female audiences across the Middle East through its portfolio of sites, Yasmina.com, 3a2ilati.com, AtyabTabkha.com, and Mooda.com. Under the terms of the deal, Webedia will also invest an additional $5m to help Diwanee widen its geographical reach and boost its user ratings. “This majority acquisition by Webedia will enable Diwanee to reinforce its position as a leader in the digital media sector in the region as well as fuel innovation and growth to allow us to continue to provide the highest quality content and state-of-the-art technology and advertising solutions to our clients,” said CEO and founding partner at Diwanee, Hervé Cuviliez.