Amazon Web Services, the retailing giant’s cloud video unit, paid about $296 million to acquire video specialist Elemental Technologies, per a 10-Q document filed by Amazon on October 23 (hat tip: @DanRayburn).
That total is well below the $500 million value pegged to the deal by The Information when the agreement was announced on September 3. It also puts it a bit closer in line to the $125 million that Ericsson has put up for Envivio, another multiscreen video processing company.
Founded in 2006, Elemental has raised $41 million, and works with several large customers, including HBO, DirecTV and CBS Interactive, and Comcast, which is using the vendor’s processing and encoding software for its in-home live TV streaming app and cloud DVR for the MSO’s X1 platform.
Elemental had almost 250 full-time employees when the deal was announced. Amazon is reportedly in talks with programmers about a live OTT video service.
Weekly digest of streaming and OTT industry news
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.