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Global e-commerce giant Amazon today announced that it has reached an agreement to acquire Dubai-based e-retailer Souq.com for an undisclosed sum.
"Amazon's entry into the region reflects the visionary foresight of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai, who launched Dubai Internet City in 1999 and adopted the e-commerce and online business legislation of 2002," said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.
Amazon acquisition of Souq reflects vision of @HHShkMohd who launched Internet City in 1999 & enacted e-commerce laws in 2002
- Hamdan bin Mohammed (@HamdanMohammed) March 28, 2017
We are happy that https://t.co/IlbiEAE5cN is a success story born in DubaiIn a media statement, Souq said that joining the Amazon family will enable it to continue growing while working with Amazon to bring even more products and offerings to customers worldwide.
- Hamdan bin Mohammed (@HamdanMohammed) March 28, 2017
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