New Delhi, June 6: 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. Nvidia Surpasses Apple on AI Boom, Hits USD 3 Trillion Market Cap and Becomes World’s Second Most Valuable Company After Microsoft.

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. India’s Smartwatch Market Stagnates for First Time, Rises 0.3% in Q1, Says Report.

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.

(The above story first appeared on LatestLY on Jun 06, 2024 06:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).