Amazon completes deal

Company says integration has already begun, with customers able to use Amazon details for Souq site

Ronaldo Mouchawar, co-founder of
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E-commerce firm Amazon announced today that it has completed its US$650 million acquisition of Dubai-based competitor

The deal, which was initially announced in March, has now been formally concluded and work has already begun on integration, with customers now able to log into using their Amazon account details. said that joining Amazon would allow it to bring more products and services to the region and to expand its "fulfilled by" service offering sellers access to a much wider customer base.

Ronaldo Mouchawar, the co-founder and chief executive of said: “It is an exhilarating time for the e-commerce industry in the region. Integration of Amazon’s technology and global resources with our local expertise will help us to offer a great service to our loyal customers.”’s senior vice-president for its international consumer business, Russ Grandinetti, said: “We are excited to be able to provide our customers in the Middle East with the benefit of easy access to using their Amazon credentials

“We are working to quickly integrate and Amazon capabilities, in terms of both customer experience and fulfilment, to provide an ever-improving shopping experience for customers in the Middle East.” currently stocks more than 8.4 million products across 31 categories and attracts 45 million visits per month. It has localised operations in the UAE, Saudi Arabia and Egypt.

Just  before and announcing their tie-up in March, a last-minute, $800m bid for was submitted by Emaar Malls, the shopping mall division of Emaar Properties, which subsequently bought a 51 per cent stake in online fashion retailer Namshi for $151m.

However, when announcing the acquisition by Amazon, Mr Mouchawar said that was "guided by many of the same principles as Amazon" and that the deal provided a critical step in growing its customers base.