Amazon has acquired Middle East retailer Souq.com

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Jeff Bezos

Amazom announced on Tuesday that it has agreed to acquire Middle East online retailer Souq.com.

The value of the deal was not disclosed.

Russ Grandinetti, senior vice president of Amazon's international consumer business, said in a statement: "Amazon and SOUQ.com share the same DNA - we're both driven by customers, invention, and long-term thinking.

"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."

Souq.com's cofounder, Syrian-born entrepreneur Ronaldo Mouchawar, added: "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."

Reuters reported last week that Amazon had agreed in principle to buy Souq.com, the Dubai-based company which was started 12 years ago by Mouchawar.

Amazon was Souq is the largest online retail platform in the Arab world, according to CNBC .

(Reporting by Alexander Cornwell; Editing by Greg Mahlich)

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