IGN: Macys, Amazon, Walmart are buying online hardware brand Amazon’s hardware division for $1.1 billion.
The acquisition of the hardware business, which makes and sells Amazon’s Alexa smart speaker, will allow Amazon to continue expanding its online business, according to people familiar with the matter.
Macys and Walmart also are in talks to acquire Amazon’s software business, a person familiar with those discussions said.
Both companies have been working with Amazon’s head of business development, Jeff Bezos, on the deal.
The move comes amid a growing effort by Amazon to tap into the growing use of smart TVs, which are increasingly used by consumers as a way to stream video and music without having to use a traditional set-top box.
The deal will also give Amazon the hardware and software development arm of its hardware business that has been increasingly focused on creating new hardware products for video streaming, the people said.