Amazon To Buy Twitch For $970 Million

Dave Knott (2917251) writes Amazon has agreed to acquire the live game-streaming service Twitch for approximately $970 million in cash, a move that could help Amazon bolster its position in the fast-growing business of online gaming and give it technology to compete with video-streaming rivals Netflix and YouTube. The acquisition, which has been approved by Twitch's shareholders, is expected to be completed by the end of the year. Google had for some time been reported to have interest in acquiring Twitch, but those talks cooled in recent weeks. Google was unable to close the deal, said sources familiar with the talks, because it was concerned about potential antitrust issues that could have come with the acquisition.