US technology company Amazon has reportedly entered into an agreement to acquire certain assets of Times Internet’s video entertainment platform MX Player in a deal estimated to be worth USD 80-100 million, as per sources familiar with the matter. MX Player is one of the leading video players and editors in the app category and ranks among the top 50 Android apps in terms of usage in India, according to data traffic insights from Similarweb.
A source disclosed, “Amazon has finalized a deal to acquire assets of MX Player in an estimated USD 80-100 million transaction. The agreement was formalized earlier this week.” Times Internet had acquired MX Player for USD 140 million in 2018.
Amazon representatives have confirmed the deal, clarifying that it involves the purchase of certain assets from MX Player and stressing that the transaction is not yet finalized. An Amazon spokesperson stated, “We are constantly seeking opportunities to introduce new products and services that enhance customers’ lives. We are thrilled to continue offering engaging local originals and exclusive content through our Prime Video and miniTV services in India.”
An email inquiry directed to Times Internet did not yield a response. As per sources, some senior officials from MX Player are expected to join Amazon once the transaction is concluded.
