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Amazon procures streaming site Twitch for $970 million [u]

updated 05:45 pm EDT, Mon August 25, 2014

Sources state that the deal is worth $1 billion, same as reported Google acquisition

[Updated with confirmation of deal between twitch and Amazon] Originally reported by The Information, Twitch has been purchased by Amazon. While Google was thought to be the forerunner that would pick up the company for $1 billion, based on earlier reports, Amazon has completed the deal, worth $970 million in cash.

Two sources say that Twitch and Amazon entered into "late stage talks" that ultimately saw the online retailer pick up the popular streaming platform. The news of Amazon's interest in the company comes after several reports that Google was buying the Justin.tv successor. VentureBeat claimed last month that a deal had been signed between the two companies, while Variety reported in May that a deal was reached. Both sourced pinned the deal at being worth at least $1 billion.

It is unknown if Google was actually interested in the company, but negotiations could have come down to a bidding war between Amazon and Google, with the decision coming down to which company offered better terms on the same purchase price.

Twitch has undergone a number of changes recently, irritating the 55 million visitors the service is said to pull in per month. After the shuttering of the company's previous service Justin.tv, Twitch changed the way videos were stored, and started instituting audio muting for copyrighted materials through Audible Magic. After an "ask me anything" session on Reddit with CEO Emmett Shear, the company backtracked on some video limits, and added an appeal system for muted audio.



By Electronista Staff
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