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Amazon acquires Net Insight's Sye streaming business

E-commerce company Inc. completed the full acquisition of Net Insight AB's consumer streaming unit Sye for about 350 million Swedish kronor in cash.

The acquisition includes the Sye technology, which solves issues in distributing business-to-consumer streaming platforms, as well as relevant intellectual property rights, contracts and about 30 employees and consultants. Amazon has been using Sye in some of its live streaming services.

The deal will enable Net Insight to focus on investing in its core business-to-business media networks unit, while enabling growth in segments such as cloud networking and internet-based transport.

Sweden-based Net Insight is a provider of media networks technology and resource optimization services.