NEW YORK (TheStreet) -- Yahoo! (YHOO) has acquired RayV, both companies announced today.
P.P.S. Narayan, Vice President of Cloud Platforms and Services at Yahoo!, announced that the company acquired RayV, an eight-year-old start-up that specializes in high-quality Internet streaming.
"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," Narayan said in a post on the company's Tumblr. "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." Narayan noted that many of the RayV team will join the Yahoo R&D center in Tel Aviv.
The financial terms of the deal were not disclosed. Yahoo! could not be reached for comment.
RayV said the company was "excited" to join Yahoo!. "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 said in its own statement.
-- Written by Laura Berman in New York