Looking to enhance its video streaming capabilities, Yahoo on Friday announced that it has acquired RayV, a video broadcasting firm that enables improved high quality streaming for online and mobile content partners. Financial details of the deal weren't disclosed.
"The RayV team shares our passion for innovation and commitment to build a video infrastructure to deliver the ultimate video experience to our users", Yahoo's head of cloud platforms, wrote in a blog post announcing the move.
Launched in 2005, the startup is based in Los Angeles with R&D operation in Tel Aviv, Israel. Yahoo said that RayV's team will join its own research and development center in Tel Aviv.
"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", the startup said announcing the acquisition on its website.
Acquiring technology that enhances video streaming makes sense for Yahoo as the company has been putting in a lot of effort to improve and expand its video offerings. The company recently announced that it would revive cult-favorite comedy show Community, which will return for a 13-episode sixth season.
Back in April, the company announced a partnership with live events promoter LiveNation. Under the deal, starting in July, a new online channel hosted by Yahoo will feature one concert per day for the next several years. In addition, the company also announced two original half-hour comedy series of its own.
Yahoo has also hired high-profile media personalities like Katie Couric, who conducts video interviews with well known personalities like Michael Bloomberg, Bryan Cranston, and more.
Prior to RayV's acquisition, Yahoo tried to acquire Hulu and DailyMotion, but the attempts ultimately fell apart.