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Amazon to acquire Catamaran’s stake in Prione Business Services

22/12/2021 at 6:24 PM

Mumbai, Dec 22: Amazon will acquire the stake of Narayana Murthy-owned Catamaran in Prione Business Services Private Ltd, the parent company of Cloudtail India Private Ltd.

“Prione Business Services Pvt. Ltd., the joint venture between Catamaran and Amazon, will be acquired by Amazon subject to requisite regulatory approvals,” a joint statement said.

Prione Business Services was set up as a joint venture (JV) between Catamaran and Amazon in 2014.

On August 09, the partners had announced their decision to not continue the JV beyond the end of its current term of May 2022.  

“Amazon will acquire Catamaran’s shareholding in Prione in compliance with applicable laws including all assets and liabilities.  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 & Cloudtail will take steps to complete the transaction in compliance with applicable laws,” the statement said.

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