Yahoo buys Israeli video streaming firm RayV

Yahoo has acquired Israeli online video streaming company RayV, integrating the business into its cloud platforms and services team.

Founded eight years ago, RayV offers a cloud-based TV-over-IP solution, distributing TV Everywhere and OTT video for online and mobile content partners.

Describing the buyout as a “pivot” for the firm, RayV said that Yahoo will be a “perfect fit for our people and capabilities, as video and mobile offerings are a central part of Yahoo’s vision.”

“Yahoo’s global scale and broad content base, combined with its amazing leadership and appetite for success, creates an ideal environment for our team to thrive and be pushed to the next level.”

RayV was established in order to “provide a better video experience for viewers over the internet” and built an end-to-end solution designed to enable high quality streaming.

The firm claims to have broadcast hundreds of live channels by “some of the world’s largest content owners” and was previously reported to have raised funding from Facebook investor Accel Partners.

Yahoo said that the RayV deal demonstrates its dedication to “accelerating our video strategy” and strengthens its underlying technology infrastructure in this space.

“Watching mobile and online video has gone from being a novelty to a daily habit for millions of users. Yahoo is focused on growing video users and monthly streams, and while we’re only getting started, we’re very focused on this in 2014,” said Yahoo in a blog post.

RayV’s team will join the Yahoo R&D centre in Tel Aviv. The deal was agreed for undisclosed terms.