E-commerce firm Amazon to acquire Catarman's stake in Prione Business Services

NEW DELHI: Prione Business Services, the joint venture between Catamaran and e-commerce firm Amazon, will be acquired by the latter, a joint statement said on Wednesday.

Founded in mid-2014, Prione Business Services provides digital and internet services to Indian small and medium sized businesses, while Catarman is a venture capital and private equity investing firm. The acquisition would be subject to requisite regulatory approvals. On August 9, the two firms announced their decision to not continue the joint venture beyond the current term to be ended in May 2022. (IANS)

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