Yahoo continues its shopping spree with the acquisition of Israel-based video streaming startup RayV.
Yahoo acquired an Israel-based startup RayV, which provides HD videos to computers, smartphones and mobile devices.
The mobile industry is growing rapidly and it makes business sense to invest in it. Tech titans like Google and Facebook have already started focusing on mobile technology. Yahoo clearly doesn't want to be left behind in the race. The web search company did not disclose the financial details of the deal but confirmed the acquisition in an official Tumblr post, Friday.
"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," Yahoo's VP of cloud platforms and services, wrote in the company's blog. "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."
The deal comes the same day as Yahoo's launch of free streaming concerts by music stars such as Usher, Michael Franti and The Dave Matthews Band. The company had earlier promised to deliver live concerts on Yahoo Screen daily starting July 15. The schedule is already updated on the website till August 13 with performances by John Legend, Justin Timberlake, OneRepublic, Everclear, Airborne Toxic Event and other music stars on the list.
Yahoo Screen can be streamed using Roku, Xbox 360, Apple TV, PCs and mobile devices. The company also offers original content from Comedy Central, BuzzFeed and Saturday Night Live shows.
Yahoo's earlier purchases this year include Sparq and Cloud Party in January, Distill and Wander in February and Vizify in March among others.
