Thursday, September 3, 2015

Amazon Web Services Buys Elemental Technologies

Seattle-based Amazon Web Services, the web services arm of Amazon.com, said late Thursday that it has agreed to acquire Portland-based Elemental Technologies. Financial terms of the acquisition wer enot announced. Amazon Web Services said it will use the acquisition to bolster its AWS Cloud platform. Elemental Technologies is a developer of video encoding and trancoding software, which is used by companies to encode videos into different formats. The company, founded in 2006, is led by Sam Blackman, and previously raised funding from Telstra, Sky, General Catalyst Partners, Norwest Venture Partners, and Voyager Capital, along with Alliance of Angels, In-Q-Tel, Citrix, Bend Venture Conference, Pixelworks, and Steamboat Ventures. The company had raised around $43.15M in funding.