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Amazon to acquire Middle East online retailer Souq.com

The world’s biggest online retailer Amazon is acquiring Souq.com, an ecommerce marketplace with roots in the Middle East. Souq is the largest online retail and marketplace platform in the Arab world and this acquisition is expected to enable Souq to continue growing while working with Amazon, to bring even more products and offerings to customers worldwide.

“Amazon and Souq share the same DNA. We are both driven by customers, invention, and long-term thinking,” Russ Grandinetti, senior vice president, international consumer at Amazon said. We are looking forward to both, learning from and supporting them with Amazon technology and global resources.”

“By becoming part of the Amazon family, we will 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,” Souq CEO Ronaldo Mouchawar added.

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