February 2, 2012, Cairo, Egypt - OTVentures, the regional giant in online and mobile technology, an affiliate of Orascom Telecom, Media & Technology (OTMT), acquired  51% in DARE'n'DEAL, the largest and fastest growing group-buying site in Egypt, valued at EGP 20 million.

This deal represents a turning point in the development of the region's e-commerce industry. As OTVentures CEO, Hanan Abdel Meguid, explained: "The acquisition was but an initial step on the path of the execution of an expansive strategy in the field of e-commerce within the Arab region, as well as the merging of e-commerce and mobile technology", given that the assessment of the Middle East market for e-commerce is about US$ 5.8 billion, together with a foreseen annual increase of 30%.

DARE'n'DEAL CEO Abdel Latif Olama also stated: "This step will enable DARE'n'DEAL to expand in providing its services to the Egyptian market and in guaranteeing a higher local standard up to a leading level within the Middle East Market"; he added: "Dare'n'Deal aims at achieving up to EGP 120 million discounts for its customers in 2012, inasmuch as that its site is visited by 5.6 million users".

Dare'n'Deal intends to launch a special Middle East site through its various affiliates, in order to provide group buying shopping services, taking into consideration that it is the first Egyptian company that provides its services within this field on the Arab market.

The acquisition is an integral milestone of OTVentures' strategic vision in providing leading technological services tailored to the local and regional market needs; in this framework, OTVentures has chosen a strong online market player that possesses similar values and business practices.

About OTVentures
Through a unique blend of leading digital, technology and content companies, OTVentures creates a powerful customer experience through its online and mobile solution portfolio. Empowering brands, governments, and consumers through a diverse blend of digital services and solutions encompassing digital and social marketing, content services, product and solution development, and hosting services; OTVentures thus supports its clients in reaching their business goals effectively and efficiently.

Through its innovative digital products, OTVentures touches the lives of more than 50% of MENA Internet users, and 72% of MENA mobile subscribers every day. OTVentures' commitment to innovation continues to drive the company to pioneer the digital world, demonstrated through leadership in introducing the first Digital Agency (Connect Ads), as well as a Regional Portal (MSN Arabia), and many more.

With exclusive partnerships with the most prominent global players (MSN, Facebook, etc.) and more than 90 content providers OTVentures provides exposure and reach that create strong, lasting impacts for our clients.

OTVentures has offices in markets across the Middle East (Egypt, UAE, KSA, Qatar, Morocco, Algeria, Tunisia...), and in Canada, Italy, Pakistan, and Bangladesh, as well as remote operations in USA.

Our Clients include more than 40 worldwide mobile operators, several governments across the MENA region, and hundreds of enterprises.

OTVentures is an affiliate of Orascom Telecom, Media & Technology (OTMT),

Visit www.otventures.com for more information.

Follow OTVentures on Twitter at @OTVentures, and visit us on Facebook.

About DARE'N'DEAL
Launched in June 2011, DARE'n'DEAL is the largest and fastest growing group-buying site in Egypt. DARE'n'DEAL gives its customers the chance to experience the best offers on restaurants, spas, travel packages, holiday deals and outdoor experiences with discounts from 50 up to 90%. New deal is featured every day and customers are encouraged to invite friends to take part in the deal and earn extra credit in the process.

Before launching a deal, a business agrees to discount a product or service to no less than 50% of its value. DARE'n'DEAL guarantees a minimum number of buy-ins, or the deal is void, and then promotes the deal to its subscribers currently numbering at 150,000. This way, customers get a discount and businesses benefit from exposure and more clientele.

Shopping on DARE'n'DEAL is safe, easy and offers members all forms of payment options including credit cards and cash on delivery. DARE 'n' DEAL offers' great deals in Egypt and will soon be expanding to other countries in the Middle East & North Africa.

The site is available in both Arabic and English, and users can continue to save and discover on www.dareanddeal.com

© Press Release 2012