Amazon has completed its acquisition of Souq, a Middle Eastern eCommerce company widely viewed as a counterpart to Amazon. The deal was announced in March and now that it's complete, US-based Amazon will have an easy time entering the Middle Eastern market.
Details of the deal aren't available, but TechCrunch claims Amazon spent around $650 million.
Amazon customers can already log into Souq.com using their existing credentials, marking the first visible sign of integration. Over time, Souq will benefit from Amazon's existing seller and customer base, and the companies will integrate their products and services.
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