Posted March 26, 2020 06:10:00Amazon’s stock has soared on a number of occasions recently, including its recent announcement that it is buying Marvel Technology for $15 billion.
The deal is expected to generate an estimated $1.2 billion in revenue for Amazon, the company said in a statement.
Marvell is one of the leading technologies used by the internet of things (IoT) to help power various applications, including virtual reality and medical devices.
The company also sells its other technology, which is used in automotive and medical imaging, as well as its digital media technology, the New Light technology.
It said it was investing $1 billion in New Light to accelerate the technology’s development and create more jobs and economic opportunities for the US.
The announcement comes amid a string of Amazon acquisitions that have raised concerns about the company’s ability to maintain its leadership position in the growing online retail industry.
Earlier this month, Amazon said it had acquired the digital media giant Vox Media for $970 million in cash.
Amazon also announced its acquisition of the medical device maker Biometrics.