Yahoo is looking to increase its footprint in the online video sector and to do so the company says it has acquired Israeli startup RayV. The Israeli company's technology is believed to be a boost for Yahoo to help stream new entertainment content to its viewers. The move was announced this week and should be a helpful move for Yahoo as it attempts to creep back into the online market leadership.
The acquisition is an important one for Yahoo, after their recent deal with LiveNation to deliver live events online as they happen. RayV is a specialist in that sector, which gives high-quality video streaming online and to mobile audiences on a huge scale. The company is eight years old and will become part of Yahoo's research and development center in Tel Aviv.
No specific monetary details have been released by either company concerning the purchase.
Yahoo has been pushing out more aggressively in recent months as it positions itself in the online media market. It says it will bring back the popular former NBC sitcom Community, a show that created a massive following. Also on the table are two original series, one from "Bridesmaids" director Paul Feig, who also created the hit show "Freaks and Geeks."
Yahoo also appears optimistic about the merger, with the company pointing to RayV's ability to help move the company forward in its desire to get more online content to users.
"The RayV team shares our passion for innovation and commitment to build a video infrastructure to deliver the ultimate video experience to our users," P.P.S. Narayan, Yahoo's head of cloud platforms, wrote in a blog post announcing the acquisition. "We are focused on building a video offering that delivers best-in-class quality and content, and can be streamed on-demand and live, on all platforms."
While it is still unclear whether RayV will continue to operate under its name within Yahoo or if, like the recent dozen or so acquisitions, it will be fully integrated into Yahoo and no longer function as an independent entity.
"Our RayV adventure now comes to a pivot, and we couldn't be more excited," the RayV team wrote in a separate blog post. "Yahoo's global scale and broad content base, combined with its amazing leadership and appetite for success, creates an ideal environment for our team to thrive and be pushed to the next level."
