The Traderszone Network

Published in TZ Latest News 25 August, 2014 by The TZ Newswire Staff

Amazon snaps up live video startup Twitch for $970 million

Amazon.com Inc snapped up live-streaming gaming network Twitch Interactive for about $970 million in cash, reflecting Chief Executive Officer Jeff Bezos’ resolve to transform Amazon into an Internet destination beyond its core retail operations. The move, announced by the two companies on Monday, is the largest deal in Amazon’s 20-year history and will help the U.S. “Twitch will further push Amazon into the gaming community while also helping it with video and advertising,” Macquarie Research analyst Ben Schachter said in a note.

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