Amazon Acquires MX Player Assets in Multi-Million Dollar Deal

Amazon is set to acquire certain assets of Times Internet's MX Player for an estimated $80-100 million, making strides in the Indian video entertainment market. MX Player ranks among the top video apps in India. The acquisition will see some senior MX Player officials joining Amazon upon completion.

US technology giant Amazon has inked an agreement to acquire select assets from Times Internet's MX Player in a deal valued between $80 million and $100 million, according to reliable sources.

MX Player ranks among the top three video players in India and is listed in the top 50 Android apps for usage in the country, according to data from Similarweb.

The transaction, which was finalized earlier this week, stipulates that some senior MX Player officials will migrate to Amazon. Times Internet, which acquired MX Player for $140 million in 2018, has not commented on the deal. Amazon confirmed the acquisition, expressing its aim to enhance its Prime Video and miniTV services for Indian audiences.

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