03:11 PM EDT, 06/06/2024 (MT Newswires) -- Amazon.com ( AMZN ) entered a definitive agreement with Times Internet to acquire key assets of MX Player in a deal valuing the Indian video streaming service at less than $100 million, TechCrunch reported Thursday, citing a source familiar with the matter.

Amazon ( AMZN ) is not acquiring the entire firm, TechCrunch reported. Several top executives from the video streamer will join Amazon ( AMZN ) following deal completion, it added.

An Amazon ( AMZN ) spokesperson confirmed to TechCrunch that it agreed on Wednesday to acquire some assets of MX Player.

Amazon ( AMZN ) and Times Internet did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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