Disney has announced it has purchased Amazon for about $3 billion, bringing the combined company’s market value to $16 billion.
Disney is looking to diversify its portfolio of brands by expanding into the food and beverage category, as well as investing in emerging markets, like India.
In a statement, Disney said that it has “great confidence in Amazon’s ability to grow in a rapidly changing marketplace.”
Amazon’s $3.7 billion purchase price is the highest price Disney has paid for a publicly traded company.
It’s also the most Disney has ever paid for an item in its portfolio.
Disney is looking for a diversified company to build on its brands in the future.
The acquisition is a major step in Disney’s efforts to expand into new industries, as the company has been focusing on expanding its film, TV and theme parks.
Amazon has a long history in the food industry.
The company is the world’s largest online retailer and a major player in the consumer electronics industry, but the company is facing competition from other e-commerce companies, including Alibaba, eBay, Snapdeal, and Alibaba Group.
The companies have been working on a deal that could help them win over consumers in a competitive marketplace, and the deal could be finalized as soon as January.