Amazon acquires Twitch for $1 billion

Its official! Amazon.com has acquired popular internet game streaming site Twitch, for about $970 million in cash. With its second biggest acquisition in the history of Amazon, the e-commerce giant has said to pay around $1 billion with retention agreements.

Twitch, a popular Internet video channel for broadcasting, and watching play videogames will now help Amazon to compete with Netflix, Apple Inc and Google Inc in the world of online

The Wall Street Journal quoted David Cowan, a partner at Twitch investor Bessemer Venture Partners, who in an interview said, “In the same way that YouTube and Netflix have to develop really robust architecture to stream enormous amounts of video, Twitch had to build a similar infrastructure geared toward live gaming.”

Mike Frazzini, vice president of Amazon Games, said that the move to acquire Twitch will help the company to robust gaming business.

“Amazon is invested heavily in games, the acquisition is a substantial step forward as we think about games generally,” Mr. Frazzini said.

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