“The Wall Street Journal” reports that Yahoo! is close to buying the Israeli video streaming company.
“The Wall Street Journal” reports that Yahoo Inc. (Nasdaq: YHOO) is close to finalizing an acquisition of video-streaming startup RayV Inc.to boost its web video technology. The paper says that an acquisition would be one of several web-video deals negotiated by Yahoo CEO Marissa Mayer in recent months to turn Yahoo’s video site, Screen, into a viable competitor to Google Inc. (Nasdaq: GOOG).
According to “The Wall Street Journal”, “RayV may help Yahoo improve the technology underlying its video efforts. Founded in 2006, RayV spent its first six years quietly developing software to improve high-definition video streaming over the web and to mobile devices. Its software suite, launched in 2012, includes a content-distribution network, a content-management system and digital-rights management.”
Terms of the potential deal couldn’t be determined. A Yahoo spokeswoman declined to comment. RayV co-founder Omer Luzzatti did not respond to requests for comment.
The “Wall Street Journal” added, “The acquisition could also expand Yahoo’s operations in Israel. RayV is based in Los Angeles, but has a research-and-development operation in Tel Aviv. Yahoo has previously acquired at least three Israeli startups – Dapper, FoxyTunes and FareChase – and has had an R&D center in Tel Aviv since 2010.”
RayV has raised more than $40 million from investors including Accel Partners, Argoquest Holdings LLC, Accrue Sports and Entertainment Ventures, Dragon Ventures and Metamorphic Ventures.
Published by Globes [online], Israel business news – www.globes-online.com