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The Competition Commission of India (CCI) on Wednesday approved the acquisition of Prione Business Services by e-commerce firm Amazon.
Notably, Prione Business Services, is a joint venture between Catamaran and e-commerce firm Amazon. In a tweet on its official handle, CCI said: "Commission approves acquisition of Prione Business Services Private Limited by Amazon Asia-Pacific Resources Private Limited." Founded in mid-2014, Prione Business Services provides digital and internet services to Indian small and medium sized businesses, while Catamaran is a venture capital and private equity investing firm. Earlier, the two firms announced their decision to not continue the joint venture beyond the current term to be ended in May 2022. Consequently, Amazon said it will acquire Catamaran's shareholding in Prione in compliance with applicable laws including all assets and liabilities. --IANS rv/pgh ( 142 Words) 2022-03-09-23:16:05 (IANS)
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