Amazon.com Inc snapped up live-streaming gaming network Twitch Interactive for about $970 million in cash, marking the largest deal in the U.S. e-commerce company's 20-year history.The move, announced on Monday by the two companies, is an unusual step for Amazon, which has tended to prefer building from within or making smaller acquisitions. It reflects Chief Executive Jeff Bezos' resolve to transform Amazon into an Internet destination beyond its core retail operations.The deal is expected to close in the second half of the year. Amazon apparently beat out tech rival Google Inc , which was previously in talks to purchase Twitch - launched in June 2011, one person briefed on the deal said.Amazon has been spending more on original television and gaming content over the last several years. It will spend $100 million on original content alone in the third quarter.
Amazon.com, Inc. (Amazon.com) serves consumers through its retail websites and focus on selection, price, and convenience. Shares of AMZN traded higher by 0.73% or $2.43/share to $334.02. In the past year, the shares have traded as low as $279.33 and as high as $408.06. On average, 3789660 shares of AMZN exchange hands on a given day and today's volume is recorded at 1955079.
Google Inc. (Google), is a global technology company. Shares of GOOG fell by 0.41% or $-2.36/share to $580.20. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 1589460 shares of GOOG exchange hands on a given day and today's volume is recorded at 1357173.
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