Yahoo announce late on Friday that it already bought an Israel-based video streaming firm which specialize in streaming high-quality video to computers and mobile devices.
The company (Yahoo) did not disclose the financial terms of the deal to acquire RayV, which will be part of the California company's research and development team in Tel Aviv in Israel.
Yahoo said in a Tumblr post " The RayV team lives and breathes video, and have become industry pioneers,". Moreover to that the company said "This deal demonstrates our dedication to accelerating our video strategy and boosting our underlying technology infrastructure in the space.”
Yahoo is focusing on ramping up its video streaming to offer live video streaming or on demand. News of Yahoo's latest acquisition came on the same day that it unveiled a lineup of free streaming concerts by music stars such as Usher, Michael Franti, and The Dave Matthews Band.
Yahoo Screen promised that they will serve up new live concert daily beginning on July 15th, when The Dave Matthews Band performs two sets.
Yahoo chief marketing officer Kath Savitt said in a statement “In today’s on-demand entertainment environment, live experiences are the only ones that we all share together, at the same time,". She added “Together with Live Nation, we are excited to bring millions of fans together to share these moments through the new Yahoo Live experience.”
For the first month schedules the live performances of John Legend, Justin Timberlake, One Republic, Everclear, Airborne Toxic Event and other music stars at yahoo.com/live
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