Official video on Ableton Amp.
Ableton describes Amp as:
Amp is an Ableton audio effect that delivers warmth and drive without hassles. Co-developed with Softube, Amp accurately delivers the sound and simplicity of legendary amplifiers and cabinets.
We've focused on the essentials — tone, vibe and character — so you can focus on making music instead of searching for the right knob. Get good dirt, fast.
Amp comes with Cabinet, a separate effect that provides a selection of classic guitar cabs, with optimized mics and mic positioning. We've also included a wide range of sounds that transform Ableton's instruments and effects with Amp's new sonic character. These include Instrument and Effect Racks, Live Clips and over 400 presets.
Amp is included with Ableton Suite 8 and is available separately for EUR 99/USD 129 from the Ableton web shop.