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Amazon agrees to acquire SOUQ.com

By Patrick Schmidt

Amazon, the US e-commerce and cloud computing giant is said to hire 1,000 people in Poland. The company already hires almost 5,000 people in Poland and has service centers in Gdansk, Wroclaw and Poznan ON 14 April 2016. (Photo by Jaap Arriens/NurPhoto via Getty Images)
Amazon, the US e-commerce and cloud computing giant is said to hire 1,000 people in Poland. The company already hires almost 5,000 people in Poland and has service centers in Gdansk, Wroclaw and Poznan ON 14 April 2016. (Photo by Jaap Arriens/NurPhoto via Getty Images) /
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Amazon made an announcement on Tuesday morning that they’ve agreed to acquire Middle East e-commerce leader SOUQ.com and that means good things ahead for the consumer.

If there’s one thing we know about Amazon, it’s that the e-commerce giant is never shy about making decisions and acquisitions that are in the best interest of their potential customers. On Tuesday, Amazon announced their latest big move they hope will have global ramifications. Amazon announced they have agreed to acquire SOUQ.com, an e-commerce leader in the Middle East.

SOUQ.com has more than 8.4 million products for sale that has made them “the Amazon of the Middle East” with products ranging from electronics to household goods to baby products and top fashion accessories.

In a press release, Amazon and SOUQ.com leaders spoke about the new deal and what it means for each company and for the consumer.

"“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. We’re looking forward to both learning from and supporting them with Amazon technology and global resources. And together, we’ll work hard to provide the best possible service for millions of customers in the Middle East.”"

Recognizing the incredible reach that Amazon has, it sounds like it was a no-brainer for SOUQ.com to join the amazon family.

"“We are guided by many of the same principles as Amazon, and this acquisition is a critical next step in growing our e-commerce presence on behalf of customers across the region,” said SOUQ.com CEO and Co-Founder Ronaldo Mouchawar. “By becoming part of the Amazon family, we’ll be able to vastly expand our delivery capabilities and customer selection much faster, as well as continue Amazon’s great track record of empowering sellers.”"

Are you a fan of the products sold by SOUQ.com? Let us know what this deal means for you and how it’ll change your shopping experience. Ideally, this will only have positive implications and make things more efficient and provide more options for you to consider purchasing. This sounds like a great deal for Amazon and for SOUQ.com, so let us know how excited you are about this new acquisition.

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