(12 February 2008 8:00 pm)

MUMBAI: Yahoo has acquired Maven Networks, Inc., an online video platform provider, for $160 million. The move is to expand consumer video and advertising experiences on Yahoo.com and Yahoo's network of premium video publishers across the web.

Yahoo claims that with Maven they will be able to offer publishers a full portfolio of technology and media solutions. Yahoo, who has a large library of professionally produced legally licensed video content, also boasts of having video advertising relationships with over 75 per cent of the top TV advertisers.

"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," said Yahoo global partner solutions EVP Hilary Schneider.

Says Maven Networks CEO, "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."

Additionally, Yahoo has advertising relationships with a growing number of premium publishers including eBay, Comcast, Newspaper Consortium, Forbes.com and others.

Maven's platform is currently used to manage, distribute and monetize premium online video content for over 30 major media companies, including Fox News, Sony BMG, CBS Sports, Hearst, Gannett, Scripps Networks, and the Financial Times as well as hundreds of their affiliates. Together they represent one of the most robust video platforms in the industry.

Yahoo intends to invest in the growth of Maven's overall video business, continuing to provide publishers with both publishing and new advertising solutions. Yahoo intends to expand on the Maven offering with video monetization services allowing publishers to take advantage of Yahoo's display sales force and advanced technologies for delivering consumers more relevant advertising experiences.

With this acquisition, Yahoo has established a Cambridge, presence and Maven has become a wholly-owned subsidiary of Yahoo.