Amazon is Set to Acquire Streaming Service Twitch for $970 Million By Nicholas Quah In a dramatic turn of events, Amazon has announced that it will buy the popular video streaming site Twitch—beating Google to the punch. It was previously reported (as far back as May) that Google was in close-to-final talks with Twitch to solidify an around $1 billion acquisition, presumably to cultivate some sort of cross-fertilization with YouTube, which Google owns. But that was not to be as Amazon now looks set to buy the company for $970 million in cash, pending governmental approval. This is yet another development in what seems to be an escalating battle between Amazon and Google. Last week, Fortune reported on Amazon’s ambitions to challenge Google’s dominance over the online advertising space. Their rivalry is historically highlighted in Brad Stone’s seminal book, The Everything Store: Jeff Bezos and the Age of Information , which shed light on an early struggle between the...
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