Yahoo has acquired high-quality video streaming startup RayV for an undisclosed sum, to improve its video content streaming for mobile and desktop users, Uncover California reported.
The Israel-based startup was founded in 2005 by Omer Luzzati and Ofer Shem-Tov.
The company had focused on provision of HD video to smartphone and mobile device users. Yahoo confirmed the deal in an official announcement, but did not disclose the terms and deal amount.
The company aims to use RayV technology to improve its video content delivery to consumers.
Yahoo had been trying hard to keep visitors coming back to its website, by adding unique content and video clips on its network to improve the traffic on the network. The company also announced last week that it would stream TV show Community on Screen.
Yahoo, which offers original news including content from Comedy Central and Saturday Night Live shows, would also begin live concerts everyday on Live Nation Channel on Yahoo Screen, starting 15 July.
''Our RayV adventure now comes to a pivot, and we couldn't be more excited. 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 video broadcasting company had kept mum about its technology except its broad marketing speech wherein it claimed that it was a ''full end-to-end solution that enables improved high quality streaming for our online and mobile video content partners.''
According to TechNews Yahoo had acquired RayV to not only strengthen its existing video infrastructure, but also to support its ongoing efforts to ramp up its Yahoo Screen online video efforts.