SEATTLE AND PORTLAND, ORE.--Amazon Web Services, the cloud video unit of the retail giant, has inked a deal to acquire Elemental Technologies, a multiscreen video specialist that counts customers such as Comcast, Sky, HBO, DirecTV and CBS Interactive.
They didn’t disclose the terms of the deal, but The Information reports that AWS is paying about $500 million in cash. Founded in 2006, Elemental has raised $41 million.
Elemental’s software-focused platform, which runs on off-the-shelf hardware, supports both live and on-demand streaming, and will be more tightly integrated with the AWS Cloud platform. Elemental will continue to operate its business under its existing brand, and serve its range of clients that span cable operators, broadcasters, governments, and enterprise customers. They expect to close the deal in the fourth quarter of 2015.
More details are available at Multichannel News.