facebook
twitter
rss
account
search
search
 

Amazon acquires Internet video game channel Twitch for $970 million

Twitch Interactive Inc. is an Internet platform that allows gamers to broadcast, watch and play video games.
By Aileen Graef   |   Aug. 26, 2014 at 4:53 PM   |   Comments

NEW YORK, Aug. 26 (UPI) -- Amazon announced Monday it had completed the purchase of the interactive video game channel Twitch for $970 million.

Amazon hopes the acquisition will help boost its gaming and video platforms. Twitch is capable of streaming events like game tournaments and music concerts to a large number of people, creating 2 percent of internet traffic in the United States.

"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," David Cowan, a partner at Twitch investor Bessemer Venture Partners, told the Wall Street Journal.

Google was reported to be in negotiations in July, but the company refused to confirm such speculation. Yahoo was also rumored to be in talks, but also declined to comment.

In addition to the $970 million, Amazon has agreed to pay more than $100 million in extra payments if certain performance goals are met.

Follow @AileenGraef and @UPI on Twitter.
Contact the Author
Topics: Google
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
2
Army deploying JLENS radar system to help protect Washington, D.C. Army deploying JLENS radar system to help protect Washington, D.C.
3
EIA: Russia diversifying energy production EIA: Russia diversifying energy production
4
New GenDyn mission computers for Navy F/A-18s New GenDyn mission computers for Navy F/A-18s
5
House wants more energy in era of record production House wants more energy in era of record production
Trending News
Video
x
Feedback