Back in the month of May, we heard some rumors and whispers regarding the acquisition of RayV, a video-streaming platform by Yahoo. Well, it’s official now.  RayV was established in the year of 2005 in order to compete Joost, the platform’s specialty lies in broadcasting high-quality video streams to a great number of people.

Yahoo is striving in boosting up their video game, so the acquisition of this platform is to improve and enhance their video streaming technology which is quite understandable. Lately, Yahoo tried to grab Hulu and Dailymotion which were unsuccessful.

The details of the deal is still under the umbrella and isn’t yet unveiled, but it is said that RayV had raised roughly $16 million. We’ll keep you up-to-dated as the fresh news rolls in.