Amazon Web Services (AMZN) Enters Agreement to Acquire Elemental Technologies
- Wall Street ends higher, notches weekly gains as Fed meeting looms
- Intel pares losses but sheds $9 billion in value on dire outlook, dividend concerns
- Analysts rush to cut Intel (INTC) price targets following weaker than expected Q1 guidance
- Lucid Group (LCID) doubles on Saudi rumors
Amazon Web Services, Inc. (AWS), an Amazon.com (NASDAQ: AMZN) company, announced that Amazon has reached an agreement to acquire Elemental Technologies, Inc., pioneers in software-defined video solutions for multiscreen content delivery. The acquisition brings together Elemental’s leading video solutions with the AWS Cloud platform to provide media and entertainment companies with a range of integrated solutions to efficiently and economically scale video infrastructures as the media industry increasingly moves to internet based delivery.
(NOTE: AWS is said to pay about $500 million for Elemental, according to Bloomberg.)
Elemental software makes it easy for media and entertainment companies to take live and on-demand video destined for traditional networks like cable, satellite, or over-the-air broadcast and re-format that content for distribution to PCs, smart phones, tablets, and TVs. Elemental has more than 700 media franchise customers and powers some of the world’s most popular over-the-top TV (OTT) applications, like the BBC’s iPlayer, CNNGo, ESPN ScoreCenter, HBO GO, MSNBC Shift, and Sky Go and Sky Now. Additionally, Elemental is supporting the world’s first 4K Ultra HD services including those that were delivered by the BBC during the 2014 World Cup.
“Elemental shares Amazon’s passion for invention and putting the customer first,” said Andy Jassy, Senior Vice President of Amazon Web Services. “Together, we’ll collaborate on deeper technology integrations and new infrastructure offerings so that media and entertainment companies can evolve their hybrid and cloud models as they continue to innovate their services for viewers.”
Founded in 2006 and headquartered in Portland, Oregon, Elemental will continue to operate its business under its existing brand, delivering the full range of solutions for pay TV operators, content programmers, broadcasters, governments, and enterprise customers. Elemental will also expand the integration of its offerings with AWS, and through close collaboration with AWS, accelerate the innovation of next-generation services that feature a range of solutions for customers leveraging on-premises assets, hybrid architectures, and cloud.
“The media and entertainment industry is at a unique inflection point, and as a part of Amazon, we will be in an even stronger position to help our customers delight their viewers globally,” said Sam Blackman, co-founder and CEO of Elemental. “We’re thrilled to have Amazon supporting our growth and ongoing commitment to our customers’ success.”
Terms of the acquisition were not disclosed and are subject to closing conditions. The acquisition is expected to close in the fourth quarter of 2015.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Akerna (KERN) will merge with Gryphon Digital Mining in an all-stock deal, to sell software business to POSaBIT Systems
- Salesforce (CRM) names three new independent directors amidst pressure from activist investors
- Avenue Therapeutics (ATXI) Announces $3.25 Million Registered Direct and Private Placement of Common Stock, Warrants
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!