In an announcement in March, Amazon confirmed its acquisition of UAE e-commerce company, Souq. This marks the first official move of the U.S retail company to penetrate the Middle Eastern marketplace.
Souq was reportedly acquired at $580 million according to SEC filings.
Both companies announced that an initial update now lets customers access Souq.com using their Amazon login. After which, an integration of products and services will soon allow users to access features available on either site.
Ronaldo Mouchawar, CEO and Co-Founder of Souq revealed that their goal with Amazon is to provide clients a vast array of products to choose from at competitive prices, as well as faster delivery, and top-notch customer service.
Source: Tech Crunch