United Arab Emirates-based e-commerce giant Souq.com has entered into a definitive agreement to buy Wing.ae, a marketplace for merchants and couriers, the company said today in a statement.
Having previously invested in Wing.ae, Souq.com – a subsidiary of US-based Amazon.com – will now acquire 100 percent of the company.
The move comes as part of Souq.com’s efforts to improve delivery for customers, said Souq.com CEO and co-founder Ronaldo Mouchawar.
Wing.ae will continue to invest in growing its same and next day delivery service across the region, the statement said.
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