Amazon and Souq.com finalise acquisition

The sign-in feature comes after Amazon announced acquisition of Souq’s in March

Tags: Amazon.com IncorporatedE-commerceSouq.com
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Amazon and Souq.com finalise acquisition Souq.com CEO and co-founder Ronaldo Mouchawar
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By  Aasha Bodhani Published  July 3, 2017

Amazon has officially finalised its acquisition of Souq.com, as customers can now use their Amazon login credentials to access Souq.com.

ITP.net reported this new feature in May, however both companies have officially confirmed the official completion.

Souq.com CEO and co-founder Ronaldo Mouchawar, said: "It is an exhilarating time for the e-commerce industry in the region. Together with Amazon, our goal is to offer our customers the widest product selection, great prices, improved delivery times and first-rate customer service.

"Integration of Amazon's technology and global resources with our local expertise will help us to offer a great service to our loyal customers."

Russ Grandinetti, Amazon senior vice president, International Consumer, added: "We are excited to be able to provide our customers in the Middle East with the benefit of easy access to Souq.com using their Amazon credentials.

"We are working to quickly integrate Souq.com and Amazon capabilities, in terms of both customer experience and fulfillment, to provide an ever-improving shopping experience for customers in the Middle East."

The US retailer and Dubai-based e-commerce portal have taken their first steps together since Amazon acquired Souq.com two months ago.

The new login feature is available on the Souq.com website, as well as the mobile app, where users will be able to share their name, email addresses and US postcode.

The acquisition, which happened in March this year, was for an unspecified amount, however reports suggested the deal was worth $650m. The move will allow Amazon to trade in the Middle East.

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