Yahoo on Friday announced acquiring Israel-based video start-up RayV. Founded in 2006, the company makes technology for powering high-definition video streaming over the Web and mobile devices. Its platform includes a content distribution network, content-management system and digital-rights management.
“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,” state P.P.S. Narayan, vice president of cloud platforms and services at Yahoo, in a blog post.
Yahoo said the RayV team would join the Internet portal’s R&D 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,” stated a separate post on the RayV Web site.
The Wall Street Journal in May reported Yahoo was in talks to buy the company as it seeks to bolster its Web video technology. Yahoo separately on Friday revealed the initial artist lineup for the Live Nation Channel it announced in April at its NewFronts event. The new channel is part of Yahoo’s revamped Screen site that will also host a pair of half-hour original comedies starting next year.
Last year, Yahoo unsuccessfully attempted to acquire DailyMotion, as well as TV portal Hulu to accelerate the expansion of its video offerings.
Terms of the RayV acquisition were not disclosed.