Tuesday, February 12, 2008

Yahoo Acquires Cambridge's Maven Networks for $160 Million - Cambridge, MA

Looking to expand its online video capabilities, Yahoo said on Tuesday that it has acquired Maven Networks, the Cambridge-based developer of an Internet video platform, for about $160 million. Maven's platform is used to manage, distribute and monetize premium online video content for more than 30 major media companies, including Fox News, Sony BMG, CBS Sports, Hearst, Gannett, Scripps Networks and the Financial Times. Yahoo said that it plans to invest in the growth of Maven's overall video business, expanding its video monetization services. "Video is projected to be the fastest growing segment of the online ad market, and Maven will significantly help advance Yahoo's strategy," said Hilary Schneider, Yahoo's executive vice president of global partner solutions. Maven has become a unit of Yahoo and will continue to operate from its offices in Cambridge, Mass.



Post a Comment

<< Home