E-commerce platform, Souq.com, announced that it is on the verge of a ‘definitive agreement’ to purchase web-based and mobile delivery solutions provider, Wing.ae.
Souq, a subsidiary of Amazon.com, has previously invested in Wing.ae, before deciding to acquire 100% of the company’s shares.
The acquisition demonstrates the continued commitment of Souq, Amazon and Wing to provide Souq.com customers with world class experiences, a statement issued by Souq.com read.
Ronaldo Mouchawar, CEO and co-Founder of Souq.com said that fast and dependable delivery is key to providing an exceptional online shopping experience.
“Wing.ae provides SOUQ.com customers with more convenience for their same and next day delivery,” he said.
“With Amazon’s support, we are putting all our efforts in providing an ever-improving shopping experience for customers in the Middle East.”
Muzaffar Karabev, CEO and co-Founder of Wing said that the purchase will allow his company to increase investments into its technology, infrastructure and coverage expansion.