Amazon pays $500M for online video vendor Elemental

Amazon (NASDAQ: AMZN) has paid a reported $500 million to acquire Elemental Technologies, a Portland, Ore. provider of over-the-top video services to pay-TV operators and other companies involved in multi-screen distribution.

Amazon didn't disclose terms of the deal in announcing it. However, subscription news site The Information said the deal involved a $500 million all-cash transaction. Meanwhile, an Elemental spokesperson told FierceOnlineVideo that Elemental will retain its brand and product lines after the deal closes.

You can read the full FierceOnlineVideo report on this acquisition here.

Suggested Articles

FuboTV, a live streaming TV service, today announced the launch of its public offering of 15 million shares of common stock.

YouTube TV said it will drop Fox regional sports networks, which are owned by Sinclair, after earlier this year negotiating an extension.

Cable One is purchasing a 45% minority stake in Mega Broadband, parent company of Vyve Broadband, for approximately $574.1 million in cash.