Amazon Acquires Twitch Live Streaming Video Platform For $970 Million In Cash (Updated)

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Along with the March system update for Xbox One, Microsoft enabled Twitch game broadcasting feature for all the gamers on Xbox One. After few weeks, Microsoft also shared some numbers on Twitch on Xbox One. In short, the engagement is much more than Sony’s PS4. Back in May and then in July, it was reported that Google is planning to acquire Twitch for $1 billion. Today, WSJ reported the twist in the tale that Amazon is going to acquire Twitch. The deal is worth more than $1 billion and it is expected to be officially announced soon.

Are you happy that Amazon is acquiring Twitch, not Google? Actually, I’m.

Update:

The official announcement was made today by both the companies. Amazon will acquire all of the outstanding shares of Twitch for approximately $970 million in cash.

Read the press release below.

SEATTLE–(BUSINESS WIRE)–Aug. 25, 2014–Amazon.com, Inc. (NASDAQ: AMZN) today announced that it has reached an agreement to acquireTwitch Interactive, Inc., the leading live video platform for gamers. In July, more than 55 million unique visitors viewed more than 15 billion minutes of content on Twitch produced by more than 1 million broadcasters, including individual gamers, pro players, publishers, developers, media outlets, conventions and stadium-filling esports organizations.

“Broadcasting and watching gameplay is a global phenomenon and Twitch has built a platform that brings together tens of millions of people who watch billions of minutes of games each month – from The International, to breaking the world record for Mario, to gaming conferences like E3. And, amazingly, Twitch is only three years old,” said Jeff Bezos, founder and CEO of Amazon.com. “Like Twitch, we obsess over customers and like to think differently, and we look forward to learning from them and helping them move even faster to build new services for the gaming community.”

“Amazon and Twitch optimize for our customers first and are both believers in the future of gaming,” said Twitch CEO Emmett Shear. “Being part of Amazon will let us do even more for our community. We will be able to create tools and services faster than we could have independently. This change will mean great things for our community, and will let us bring Twitch to even more people around the world.”

Twitch launched in June 2011 to focus exclusively on live video for gamers. Under the terms of the agreement, which has been approved by Twitch’s shareholders, Amazon will acquire all of the outstanding shares of Twitch for approximately $970 million in cash, as adjusted for the assumption of options and other items. Subject to customary closing conditions, the acquisition is expected to close in the second half of 2014.

Source: WSJ

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Pradeep, a Computer Science & Engineering graduate.

  • Zicoz

    Thank god. Was afraid I would have to stop supporting my favorite broadcasters if Google bought them out. Just hope that Amazon steps up their support of the Windows platforms.

    • Bugbog

      They may well be just as bad?!