The Wall Street Journal reported back in May that Yahoo as close to acquiring video streaming startup RayV. As of today, that has happened. The company will be joining Yahoo’s platform and services team.

RayV has developed software for improving HD video streaming, and has a content distribution network, CMS, and DRM product.

The RayV team announced the acquisition on its homepage (via TechCrunch):

Our RayV adventure now comes to a pivot, and we couldn’t be more excited. We believe Yahoo will be a perfect fit for our people and capabilities, as Video and Mobile offerings are a central part of Yahoo’s vision. Yahoo’s global scale and broad content base, combined with its amazing leadership and appetite for success, creates an ideal environment for our team to thrive and be pushed to the next level.

During our journey, we have shaped and then crystallized our streaming paradigm and invented the algorithms to support it. We have built a full end-to-end solution that enables improved high quality streaming for our online and mobile video content partners, delivering a robust video experience to our customers. Most importantly, we have had the privilege to stream video to viewers daily while broadcasting hundreds of live channels created by some of the world’s largest content owners.

Terms of the deal were not disclosed.

Image via Yahoo