Industry

Amazon to acquire Prione Business Services

The logo of Amazon is pictured inside the company's office in Bengaluru, India.

The logo of Amazon is pictured inside the company's office in Bengaluru, India.

Prione Business Services, the joint venture between Catamaran and Amazon, would be acquired by Amazon subject to requisite regulatory approvals, said Catamaran and Amazon in a joint media statement on Wednesday.

On August 9, 2021, the partners had announced their decision to not continue the joint venture beyond the end of its current term of May 2022.

Amazon would acquire Catamaran’s shareholding in Prione in compliance with applicable laws including all assets and liabilities, parties said.

``The businesses of the Joint Venture shall continue under the leadership of the current management and on receipt of regulatory approvals, the board of Prione and Cloudtail will take steps to complete the transaction in compliance with applicable laws,'' the statement added.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Aug 10, 2022 12:34:35 am | https://www.thehindu.com/business/Industry/amazon-to-acquire-prione-business-services/article38012178.ece