M&A Deal Summary

Amazon Acquires Souq.com

On March 28, 2017, Amazon acquired e-commerce company Souq.com from Standard Chartered Private Equity for 650M USD

Acquisition Highlights
  • This is Amazon’s 9th transaction in the E-Commerce sector.
  • This is Amazon’s 9th largest (disclosed) transaction.
  • This is Amazon’s 1st transaction in United Arab Emirates.

M&A Deal Summary

Date 2017-03-28
Target Souq.com
Sector E-Commerce
Buyer(s) Amazon
Sellers(s) Standard Chartered Private Equity
Deal Type Add-on Acquisition
Deal Value 650M USD

Target

Souq.com

Dubai, United Arab Emirates
website
Souq.com is an e-commerce platform serving the Middle Eastern market with access to products across categories such as consumer electronics, fashion, household goods, watches or perfumes. Souq.com operates both as a retail site and as a marketplace for third party sellers. Souq.com was formed in 2005 and is based in Dubai.

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Buyer(S) 1

Buyer

Amazon

Seattle, Washington, United States

website


Category Company
Founded 1994
Sector E-Commerce
Employees1,541,000
Revenue 514.0B USD (2022)
DESCRIPTION
Amazon office building in downtown Seattle, Washington.
Amazon office building in downtown Seattle, Washington.

Amazon is an e-commerce retailer and provider of web services. Amazon enables millions of products to be sold through its website and by third parties across a variety of product categories. Customers access Amazon directly and through mobile websites and apps. Amazon also manufactures and sells electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and Echo. Amazon also offers Amazon Prime, an annual membership program that includes free shipping and access to streaming of movies and TV episodes. Amazon was founded in 1994 and is based in Seattle, Washington.


DEAL STATS #
Overall 53 of 76
Sector (E-Commerce) 9 of 10
Type (Add-on Acquisition) 47 of 67
Country (United Arab Emirates) 1 of 1
Year (2017) 2 of 6
Size (of disclosed) 9 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-09 harvest.ai

San Diego, California, United States

harvest.ai is a data loss prevention platform that allows organizations to identify and stop data breaches from targeted cyber attacks.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-16 Whole Foods Market

Austin, Texas, United States

Whole Foods Market, Inc. is a natural and organic foods supermarket chain. Whole Foods operates more then 450 stores across the US, Canada, and the UK. Whole Foods was formed in 1978 and is headquartered in Austin, Texas.

Buy $13.7B

Seller(S) 1

DESCRIPTION

Standard Chartered Principal Finance (SCPF) is the alternative asset investment arm of international bank Standard Chartered. SCPF is split into four segments. These include Corporate Private Equity, Real Estate, Infrastructure, and Alternative Investments. SCPF's Corporate Private Equity Group invests across a range of mid to late stage companies in a variety of sectors throughout the Middle East, Asia, and Africa. The Group looks for businesses with motivated management, sustainable business models, and a track record of strong cash-flows. The segment seeks to invest $25 to $100 million to fund expansion needs or management buyouts. SCPF's Real Estate Group targets real estate opportunities in Asia, Africa and the Middle East, with a primary focus on China, India, Singapore, Hong Kong, Korea and Taiwan. The Real Estate Group will consider equity or mezzanine investments in existing assets, as well as development projects and corporate level investments in real estate owners or developers. SCPF's Infrastructure unit focuses on Chinese or Indian assets across transportation, energy, power, water, environment, telecom and urban infrastructure. SCPF's Alternative Investments practice targets distressed and high-yield opportunities. Standard Chartered Principal Finance is based in Singapore, with additional offices around the world.


DEAL STATS #
Overall 4 of 10
Sector (E-Commerce) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (United Arab Emirates) 1 of 1
Year (2017) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-29 Souq.com

Dubai, United Arab Emirates

Souq.com is an e-commerce platform serving the Middle Eastern market with access to products across categories such as consumer electronics, fashion, household goods, watches or perfumes. Souq.com operates both as a retail site and as a marketplace for third party sellers. Souq.com was formed in 2005 and is based in Dubai.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-12 InterGlobe

Gurgaon, India

InterGlobe is an official distributor of Travelport in 6 markets across Asia Pacific region including India, Sri Lanka. The company provides cutting edge travel technology solutions with unmatched inventory options to its customers helping them increase their productivity and business efficiency. InterGlobe was formed in 2005 and is based in Gurgaon, India.

Sell Rs2.3B