E-commerce giant Amazon which also runs video streaming platforms like Prime Video and Mini TV has acquired some assets of Times Internet-owned MX Player.
“We are always looking for ways to introduce new products and services that help improve customers’ lives. We’re excited to continue to entertain India with the great local originals and exclusive content available across our Prime Video and miniTV services in India,” said an Amazon spokesperson.
The company has given no information about the size of the deal. However, some reports suggest that the deal is worth less than $100 million.
MX Player had raised $111 million in 2019 at a valuation of $500 million. Since then, there has been a big decline in the company’s valuation.
According to the reports, the acquisition of MX Player will boost Mini TV.