Yahoo looking to buy video streaming start-up firm RayV: Wall Street Journal
May 22, 2014, 12:03 am TWN
NEW YORK -- Yahoo Inc., eager to strengthen its video streaming activities, is close to buying the Israeli startup firm RayV, the Wall Street Journal reported Wednesday.
The paper, quoting people familiar with the deal, said negotiations are nearly complete. it did not say what the sale price might be.
Founded in 2006, video streaming start-up RayV has set up its headquarters in Los Angeles but has kept its research and development teams in Tel Aviv.
The company specializes in developing software for high definition video streaming over the Internet.
Acquiring RayV would be a boost for Yahoo which has suffered several setbacks of late in its strategy of broadening its video offerings. Bids to acquire the French video site Dailymotion and TV portal Hulu failed.
Yahoo this year launched negotiations with online video services Fullscreen Inc. and News Distribution Network Inc., the Journal said.