Amazon.com Inc.’s share price up, to acquire GoodGame and release 4k video streaming service

Amazon.com Inc. is planning to expand its reach in video games. The U.S.-based company announced that it is to acquire GoodGame, a company known for holding teams of video-game players and hosting live gaming tournaments.

GoodGame, based in the U.S., is focused on organizing the so-called “esports” events, in which different gaming teams compete.

The company did not reveal any terms of the deal, which comes after in August it disclosed a $970-million takeover deal with Twitch Interactive Inc. to expand reach in the gaming industry. Video games have become one of the primary targets of U.S.-based Amazon over the tenure of the Chief Executive Officer Jeff Bezos.

The announcement comes at a time, when Amazon is also releasing a catalogue that consists of movies and television shows, which stream in 4K, or “Ultra HD”. At first, the 4K programming of the online retailer will be provided to members of Amazons Prime club.

The tax for Amazons Prime members will be at the amount of $99 annually for products, such as free two-day shipping and unlimited streaming of select music, TV shows and movies. In addition, the customers will get the 4k streaming for free.

The Vice President of Amazons Digital Video unit, Michael Paull, said in a statement, cited by PC Mag: “We want to deliver the best entertainment experience, and offering Ultra HD movies and TV shows raises the bar on quality and innovation that customers have come to expect from Amazon.”

The 4K streaming service, however, will not be kept by Amazon only for its Prime members. The company announced that it intends to start selling individual 4K movies at the price of $19.99 and more.

Amazon.com Inc. was up 1.91% to close at $312.50 per share yesterday, marking a one-year loss of 18.81%. The company is valued at $141.98 billion. The companys shares traded at €252.750 in Frankfurt as of 9:25 GMT. According to CNN Money, the 37 analysts offering 12-month price forecasts for Amazon.com Inc. have a median target of $350.00, with a high estimate of $450.00 and a low estimate of $296.00. The median estimate represents a +12.00% increase from the last price of $312.50.