Amazon to acquire full stake in Prione Business Services

Amazon announced on Wednesday that it is going to acquire the full stakes in Prione Business Services, its joint venture with Catamaran. Amazon and NR Narayana Murthy’s Catamaran announced in August this year that both the companies are planning to continue their joint venture, beyond May 2022. 

Amazon released a statement saying that the joint venture between Catamaran and Amazon will be acquired by Amazon. The company will acquire all the shares of Catamaran with applicable laws including all the assets and liabilities. 

Prione Business Services was formed in 2014 and was supposed to be renewed in May 2022. The reason for this decision is still not disclosed by both the companies. According to the sources, Amazon’s shareholdings in Prione Business Services came down to 24 percent from 49 percent after the reconstruction in 2018. 

The business will continue under the current management and on receipt of regulatory approvals. The board of Prione and Cloudtail will take further steps to complete the transaction in compliance with applicable laws.