Amazon announced this afternoon that it’s acquiring Elemental Technologies, a backend mobile video service.
It’s paying around $500 million in cash for the company, according to a new report from The Information. (Subscription required.)
Amazon didn’t immediately return a phone call or email request for comment about that figure.
The deal was orchestrated by Amazon’s highly profitable Amazon Web Services unit, which will incorporate Elemental’s technology into its cloud infrastructure services mobile video offering, says The Information.
Elemental, which makes high-speed video encoding and transcoding software to enable multiscreen content delivery across different devices, was founded nine years ago in Portland, Ore., and counts among its many customers ABC, BBC, Comcast, Ericsson, and ESPN.
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