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SUNNYVALE, Calif. (

TheStreet

) -

Yahoo!

(YHOO)

said Tuesday it reached an agreement to acquire Arab online community

Maktoob.com

.

Maktoob has 16.5 million unique users, the companies said in a joint statement Tuesday. Maktoob can be accessed by users in countries such as the United Arab Emirates, Jordan, Kuwait, Egypt and Saudi Arabia.

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"This acquisition will accelerate Yahoo!'s strategy of expanding in high-growth emerging markets where we believe Yahoo! has unparalleled opportunity to become the destination of choice for consumers," said Yahoo! CEO Carol Bartz.

Yahoo! said the acquisition would allow it to offer Arabic versions of Yahoo! Messenger and Yahoo! Mail services.

The acquisition is expected to close in the fourth quarter. Financial terms of the deal weren't disclosed, although some eports put the price tag at about $75 million to $85 million.

-- Reported by Joseph Woelfel in New York

.

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