Amazon to Buy Live-Stream Gaming Site Twitch for $970M

Amazon.com, in its efforts to increase its video-streaming offerings, plans to buy live-streaming video game site Twitch for about $970 million in cash, the two companies announced Monday. The deal, the largest cash buy in the e-tailer's history, helps Amazon expand its video-streaming service, as it pits its fledgling Amazon Prime Instant Video streaming service against streaming giant Netflix. CEO Jeff Bezos has made it clear that Amazon is committed to growing its video offerings, including the development of original content. Twitch is a video platform that streams content geared toward gamers, including live gaming footage, commentary, and online shows.