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New Delhi: US technology firm Amazon has signed an agreement to acquire some of the assets of Times Internet's video entertainment platform MX Players in an estimated $80-100 million deal, according to sources aware of the development.
MX Player is among the top three video players and editors app category and in the top 50 Android apps in terms of usage in India, as per data traffic insights from Similarweb.
"Amazon has signed a deal to acquire some of the assets of MX Players in a deal, which is estimated to be in the range of $80-100 million. The deal was signed early this week," a source said.
Times Internet acquired MX Players for $140 million in 2018.
Amazon officials have confirmed the deal but added that the agreement has been signed to purchase some assets from MX Player, and the transaction is not yet complete.
"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," an Amazon spokesperson said.
An email query sent to Times Internet elicited no response.
According to sources, some of the senior officials of MX Player will join Amazon once the transaction is complete.