Amazon has entered into an agreement to acquire Middle East eCommerce business Souq in a deal that is set to see major growth in online sales throughout the Middle East region. “We are guided by many of the same principles as Amazon, and this acquisition is a critical next step in growing our eCommerce presence on behalf of customers throughout the region,” said Souq’s CEO Ronaldo Mouchawar. “By becoming part of the Amazon family, we’ll be able to vastly expand our delivery capabilities and customer selection much faster, as well as continue Amazon’s great track record of empowering sellers.”
The deal is expected to close later this year.
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