Yahoo has acquired RayV, an Israeli video streaming service. Both RayV and Yahoo have put up official posts announcing the deal. However, there is no word on the financial details yet.
Eight-year old RayV sells technology that’s aimed at easier video distribution and eases bandwidth demands. Last month, The Wall Street Journal had also hinted that Yahoo was in talks to buy the startup. The RayV team will now join Yahoo’s R&D center in Tel Avi and its technology will be used to strengthen the company’s infrastructure.
In an official post P.P.S. Narayan, VP of Cloud Platforms and Services writes, “Yahoo is focused on growing video users and monthly streams, and while we’re only getting started, we’re very focused on this in 2014. This deal demonstrates our dedication to accelerating our video strategy and boosting our underlying technology infrastructure in the space.”
He further went on to explain how Yahoo plans on ‘building a video offering that delivers best-in-class quality and content, and can be streamed on-demand and live, on all platforms’. Meanwhile, the RayV team wrote on its site, “We believe Yahoo will be a perfect fit for our people and capabilities, as Video and Mobile offerings are a central part of Yahoo’s vision.”
It seems just like the right move as Yahoo has been focusing a lot on improving its video content. Recently, it had bolstered its line-up of online video programming with two comedy series and concert streaming channel. In fact, it has also announced to revive the Community show for the sixth season. So, acquiring technology that enhances streaming for its users makes a lot of sense.
This is great news for the company, especially after its attempt at acquiring both Hulu and DailyMotion failed. This could also help the company that is trying hard to bounce back in the Internet game, attract hordes of new users.