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.