Yahoo! Inc. (NASDAQ:YHOO) acquired RayV, an online video streaming service company based in Israel as the California-based search company continue to focus in growing its video users and monthly streaming volume.
In a blog post, P.P.S. Narayan, vice president of of Cloud Platforms and Services at Yahoo! Inc. (NASDAQ:YHOO) emphasized that the company is “very focused” on its initiatives on mobile and online video this year.
He noted that watching mobile and online video is now a daily habit of millions of users. According to Narayan, the acquisition of RayV shows that Yahoo! Inc. (NASDAQ:YHOO) is committed in accelerating its video strategy and boosting its underlying technology infrastructure in the sector.
“At Yahoo, 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. The RayV team shares our passion for innovation and commitment to build a video infrastructure to deliver the ultimate video experience to our users. RayV has built a compelling technology that enables improved high quality streaming for online and mobile content partners,” according to Narayan.
Furthermore, Narayan emphasized that RayV’s team is a pioneer in the industry. According to him, RayV’s co-founders Omer Luzzatti and Ofer Shem-Tov who also serve as CTO and chief architect of RayV, respectively are both veterans in the audio and multimedia industry.
“They have solid domain expertise and a passion for video that makes them a perfect fit for the Yahoo Video and CDN platform,” said Narayan. The RayV team will join the research and development (R&D) center of Yahoo! Inc. (NASDAQ:YHOO) in Israel.
Yahoo! Inc. (NASDAQ:YHOO) did not disclose the terms of its transaction with RayV.
Last month, it had been reported that Yahoo! Inc. (NASDAQ:YHOO) is considering to purchase Fullscreen, a company that creates contents for YouTube, the video service of Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL).
Reports indicated that Yahoo offered to acquire $250 million to acquire Fullscreen, and it might be competing with AOL, Inc. (NYSE:AOL) and Comcast Corporation (NASDAQ:CMCSA) as both companies are also considering to submit a bid for the content producer.