SOUQ.com signs agreement to buy 100% of company after previously being an investor
SOUQ.com on Wednesday announced it has entered into a definitive agreement to purchase Wing.ae, which provides mobile and web-based delivery solutions for businesses and individual consumers.
SOUQ.com, which was recently bought by online retail giant Amazon, previously invested in Wing.ae and will be acquiring 100 percent of the company.
A statement said Wing.ae will continue to invest in growing its same and next day delivery service in the region, enabling greater convenience for customers, including SOUQ.com.
Ronaldo Mouchawar, SOUQ.com CEO & co-founder, said: “At SOUQ.com, our customers will remain our key focus and we will continue to deliver an exceptional online shopping experience. Fast dependable delivery is key to this, and Wing.ae provides SOUQ.com customers with more convenience for their same and next day delivery.
"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.ae, added: “The UAE is a leading e-commerce and smart hub in the region, and in this demanding business we work to fill the logistics supply gaps to offer customers the excellent service they want as fast as possible.
“With the support of SOUQ.com, Wing will accelerate investments into our technology, infrastructure and regional coverage to provide innovative delivery solutions and to make online shopping for SOUQ.com customers and merchants even more convenient.”
SOUQ.com features more than 8.4 million products across 31 categories online and attracts over 45 million visits per month, with localised operations in Saudi Arabia, UAE and Egypt.