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Amazon to buy Twitch for $970 million

Amazon is buying video game streaming giant Twitch, the companies announced Monday.

“Amazon and Twitch optimize for our customers first and are both believers in the future of gaming,” Twitch CEO Emmett Shear said about the sale.

“Being part of Amazon will let us do even more for our community,” he continued. “We will be able to create tools and services faster than we could have independently. This change will mean great things for our community, and will let us bring Twitch to even more people around the world.”

The news comes after The Information and Wall Street Journal reported Amazon was closing in on a deal to acquire the video game streaming firm. The Journal’s initial report had the price of sale at more than $1 billion (about £600m, AU$1.07b), but according to the release Amazon will buy all outstanding Twitch shares for approximately $970 million (about £585m, AU$1.04b) in cash.