Amazon Announces Purchase of Video-Software Company Elemental - Bloomberg Business

Elementally, dear Netflix

"Amazon.com Inc. is buying Elemental Technologies Inc., a provider of technology for distributing videos to Web-connected devices, seeking to expand its portfolio of cloud-computing services.
The online retailer paid about $500 million for Elemental, a person with knowledge of the matter said, asking not to be identified because the information isn’t public. The Portland, Oregon-based company helps media and entertainment providers reformat video made for cable, satellite and airwaves broadcast so that clips can be transmitted to desktop computers, smartphones and tablets, Amazon said in a statement Thursday."

Amazon Announces Purchase of Video-Software Company Elemental - Bloomberg Business