Investing.com - Amazon (NASDAQ:AMZN) announced on Tuesday that it would acquire SOUQ.com, an e-commerce firm in the Middle East.
“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,” the company announced in a press release.
Amazon did not announce the financial details for acquiring the largest online retail and marketplace platform in the Arab world. SOUQ.com has around 45 million visits per month and sells approximately 8.4 million products across 31 categories such as consumer electronics, fashion, health and beauty, household goods, and baby.
The acquisition is expected to close in 2017.