Amazon Buys Digital-Video Startup Elemental Technologies

Amazon subsidiary Amazon Web Services is acquiring video reformat specialist Elemental Technologies, positioning itself as a key player in the web-video gold rush.

Though terms of the deal haven't been released, media reports state that Amazon Web Services is putting down $500 million in cash for Elemental. That Oregon-based Company specializes in software that reformats video destined for traditional networks such as cable, satellite or over-the-air broadcast for distribution to PCs, smart phones, tablets and TVs. Through the acquisition, the software will now be paired with Amazon Web Services' cloud platform to offer media and entertainment companies a range of integrated solutions to scale video infrastructures.

Elemental currently powers a host of popular OTT applications, among them BBC's iPlayer, CNNGo, ESPN ScoreCenter, HBO GO, MSNBC Shift and Sky Go and Sky Now. It will continue to operate its business, which consists of 700 media franchise customers, under its existing brand. The company will also expand the integration of its offerings with AWS, accelerating the innovation of next-generation services for customers leveraging on-premises assets, hybrid architectures and cloud.

"Elemental shares Amazon's passion for invention and putting the customer first," said Andy Jassy, the senior VP of Amazon Web Services. "Together, we'll collaborate on deeper technology integrations and new infrastructure offerings so that media and entertainment companies can evolve their hybrid and cloud models as they continue to innovate their services for viewers."

"The media and entertainment industry is at a unique inflection point, and as a part of Amazon, we will be in an even stronger position to help our customers delight their viewers globally," said Sam Blackman, co-founder and CEO of Elemental. "We're thrilled to have Amazon supporting our growth and ongoing commitment to our customers' success."

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