The Yahoo! acquisition of Maktoob.com has been hailed as a new dawn for the IT sector. A new dot-com boom set to explode in the Middle East! Some are even perplexed by the media's rather uncaring take on the deal (the amount of coverage received not as much as they would like to think). While it is always good to see money pumping in the Middle East for any sector, I just don't see everyone in the world coming down here and buying out companies.

Yahoo! has no interest in, perhaps, Maktoob's most innovative product, araby.com. The only thing that interested Yahoo! is the overwhelming number of eyeballs Maktoob managed to amass throughout the region. While it is a clever way to make yourself attractive for an acquisition, it isn't exactly the pinnacle of innovation.

So, let us please not go overboard with self-congratulations that is so typical of the region without actually looking at what is happening around us.