Amazon Aqcuires Twitch for $970 Million

In an open letter addressed to the community, Twitch Interactive CEO Emmett Shear announced that Twitch has been acquired by Amazon. Rumors had been abound this morning, but the following except from the statement confirms the deal .

“Today, Im pleased to announce weve been acquired by Amazon. We chose Amazon because they believe in our community, they share our values and long-term vision, and they want to help us get there faster. Were keeping most everything the same: our office, our employees, our brand, and most importantly our independence. But with Amazons support well have the resources to bring you an even better Twitch.”

This puts an end to another rumor that YouTube would acquire Twitch. This news also follows the closing of Justin.tv earlier this month and Twitch updating its copyright detection to automatically mute the audio of offending VODs.

A press statement from Amazon confirms the acquisition for $970 million.

“Amazon.com, Inc. (NASDAQ: AMZN) today announced that it has reached an agreement to acquire Twitch Interactive, Inc., the leading live video platform for gamers.

… Under the terms of the agreement, which has been approved by Twitchs shareholders, Amazon will acquire all of the outstanding shares of Twitch for approximately $970 million in cash, as adjusted for the assumption of options and other items. Subject to customary closing conditions, the acquisition is expected to close in the second half of 2014. “