Yahoo! has acquired online video platform provider Maven Networks for $160 million in order to expand consumer video and advertising experiences on Yahoo!.com and Yahoo!’s network of premium video publishers.
Yahoo! said that it intends to invest in the growth of Maven’s overall video business, continuing to provide premium publishers with both publishing and new advertising solutions.
Hilary Schneider, EVP, Global Partner Solutions at Yahoo!, said: “”Video is projected to be the fastest growing segment of the online ad market, and Maven will significantly help advance Yahoo!’s strategy, expanding the video opportunity for publishers and increasing the efficiency and effectiveness for advertisers. This is a big win for publishers, advertisers, consumers and for Yahoo!.”
Says Hilmi Ozguc, CEO of Maven Networks, said: “Over the past year, Maven has emerged as the market leading video and advertising technology platform, serving some of the largest global media companies.
“By combining our capabilities with Yahoo!’s own technology resources, publisher and advertiser relationships, and vast audience reach, we will deliver an unmatched video content syndication and advertising solution to the market.”
On Monday, Yahoo! rejected a $44 billion takeover bid from Microsoft (see Yahoo! Rejects Microsoft Takeover Bid).
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