Yahoo! acquires Maven in $160m deal

by Darren Davidson, Brand Republic 12-Feb-08, 16:00

LONDON - Yahoo! has acquired Maven Networks, the online video platform, for $160m (£82m) as part of a plan to expand the consumer video and advertiser experience capabilities on its main website and network of publishers.

Yahoo! said the acquisition of privately owned Maven will allow it to offer publishers a full portfolio of technology and media solutions.

Maven's platform is currently used to manage, distribute and monetise premium online video content for more than 30 major media companies, including Fox News, Sony BMG, CBS Sports, Hearst and the Financial Times as well as hundreds of their affiliates.

Yahoo! said it intends to invest in the growth of Maven's overall video business, whilst continuing to provide premium publishers with both publishing and new advertising solutions.

Yahoo! said it already has video advertising relationships with more than 75% of the top TV advertisers.

Hilary Schneider, executive vice-president of 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."