Amazon India earmarks the final talks to purchase MX Player
Amazon India has all the earmarks of being exceptionally near to the process of procuring Times Internet-led MX Player, as per three sources aware of the conversations. This is Amazon’s second effort to catch the video-based streaming platform and this time it appears as though the arrangement is practically finished.
Amazon India had additionally had conversations with the Times internet led firm in March last year yet the discussions fell through by July 2023. Times internet had gained MX Player in a $140 million arrangement in January 2018.
MX Player is possessed by MX Media which likewise used to claim brief video diversion application MX TakaTak. MX TakaTak converged with Google-moved ShareChat in February 2022. Afterward, ShareChat shut down MX TakaTak subsequent to progressing the clients into Moj.
The Ankush Sachdeva-drove firm likewise discounted its interest in MX TakaTak. Questions sent to Amazon and MX Player and didn’t get a prompt reaction. Assuming that the deal goes through, MX Player will be the 6th subsidiary from which Times Internet would have taken an exit in the beyond three years.
The Gurugram-based organization sold MX Takatak in February 2022 while DineOut was purchased by Swiggy in the month of May 2022. Web based business roll-up unicorn Mensa purchased MensXP, iDiva, and Hypp from Times Internet in the month of December 2022. Times Internet has additionally been hoping to sell its music streaming platform Gaana and held talks with Airtel Wynk yet the conversation didn't go through.
One of the sources subjected to this matter says, “Amazon India has been in late-stage talks to acquire MX Player in a distress sale. The contours of the deal have been chalked out and Amazon has offered a term sheet to MX Player”.
