Post by The Ultimate Nullifier on Jul 11, 2014 19:39:52 GMT -6
Yahoo has acquired RayV, an Israel-based startup that developed mobile video-streaming technology.
Terms of the deal were not disclosed. According to Yahoo, 11 employees of RayV will join Yahoo, mostly in the Yahoo R&D center in Tel Aviv.
“Watching mobile and online video has gone from being a novelty to a daily habit for millions of users,” P.P.S. Narayan, Yahoo VP of cloud platforms and services, said in announcing the deal. “This deal demonstrates our dedication to accelerating our video strategy and boosting our underlying technology infrastructure in the space.”
The founders of RayV, who will join Yahoo, are CTO Omer Luzzattiand and chief architect Ofer Shem-Tov.
RayV had raised $16 million from investors including Accel Partners, Magma Venture Partners and Ron Zuckerman.