Amazon announced Tuesday that it has reached an agreement to acquire SOUQ.com, an e-commerce leader in the Middle East. Executives did not disclose the value of the Amazon deal.
Joining the Amazon family will enable SOUQ.com to continue growing while working with Amazon to bring even more products and offerings to customers worldwide, according to a statement by Amazon.
“Amazon and SOUQ.com share the same DNA – we’re both driven by customers, invention, and long-term thinking,” said Russ Grandinetti, Amazon Senior Vice President, International Consumer. “SOUQ.com pioneered e-commerce in the Middle East, creating a great shopping experience for their customers.
Subject to closing conditions, the acquisition is expected to close in 2017.