Dubai - Mubasher: A technology fund led by Mohamed Alabbar has acquired UAE e-commerce website JadoPado, Reuters reported, citing Mohamed Alabbar’s spokesperson.

The deal comes almost a month after Amazon's acquisition of Dubai-based e-commerce website Souq.com.

Earlier in May, JadoPado shut down its website, posting a message saying that it "has been acquired by a large regional business".

JadoPado declined to comment when contacted by Reuters, but said it will be making an announcement in the coming weeks.

During the talks that led Amazon’s acquisition of Souq, Alabbar presented a bid to acquire the UAE e-commerce retailer for $800 million.

Amazon's acquisition of Souq.com in April was described by Goldman Sachs as "the biggest-ever technology [merger and acquisition (M&A)] transaction in the Arab world".

Recent reports indicated Alabbar’s interest in technology investments alongside his $1 billion technology and online retail firm Noon, which has received investments from Saudi Arabia's sovereign wealth fund, the Public Investments Fund (PIF).

JadoPado was established in 2011, but has since grown into an online marketplace, enabling sellers to create their virtual shops and sell directly to buyers.

In late 2016, local media had reported that Alabbar’s Noon was set to go live in January 2017 with around 20 million products.