Amazon to acquire some assets of MX Player

Online major Amazon has signed an agreement to acquire some assets from the Times Internet-owned streaming platform MX Player, it said on Thursday. The deal, which is yet to conclude, values MX Player at around Rs 800 crore, industry sources said. The deal is expected to boost Amazon’s streaming ambitions in India, a crucial market for its future expansion, due to the rising digital video adoption by consumers. MX Player has a strong presence in smaller towns and cities and is expected to bolster Amazon’s push into rural areas.