Amazon plans to acquire part of the assets of Indian streaming service MX Player, with the transaction valuation estimated to be less than $100 million
Amazon has reached an agreement to acquire certain assets of the Indian video streaming service MX Player. The e-commerce giant is acquiring some assets of MX Player, but not the entire company. The deal has not been completed yet. An Amazon spokesperson stated in a release, "We have been looking for ways to introduce new products and services that help improve the lives of customers. We are excited to continue entertaining India with outstanding local originals and exclusive content through our Prime Video and miniTV services in India." According to a source familiar with the matter, the valuation of this deal is less than $100 million, and the two parties have been in discussions for nearly two years. Reports emerged in February last year that Amazon was in talks with the parent company of MX Player for a deal. It was reported that at that time, the parent company of MX Player, Times Internet, was considering a competitive offer for this video service. In 2019, MX Player raised $110.8 million in a financing round led by the Chinese internet giant Tencent. It was reported that at that time, the post-financing valuation of MX Player was $500 million
According to Zhitong Finance and Economics APP, Amazon (AMZN.US) has reached an agreement to acquire certain assets of the Indian video streaming service MX Player.
The e-commerce giant is acquiring some assets of MX Player, but not the entire company. The transaction is not yet completed.
An Amazon spokesperson stated in a release, "We have been looking for ways to introduce new products and services that improve the lives of customers. We are pleased to continue entertaining India through our Prime Video and miniTV services with outstanding local original and exclusive content."
According to a source familiar with the matter, the valuation of this deal is less than $100 million, and the two parties have been in discussions for nearly two years. Reports emerged in February last year that Amazon was in talks with MX Player's parent company for a deal.
It is said that at that time, MX Player's parent company Times Internet was considering making a competitive offer for this video service.
In 2019, MX Player raised $110.8 million in a financing round led by the Chinese internet giant Tencent (00700). It was reported that MX Player's post-financing valuation at that time was $500 million