Sunnyvale, Calif. - Yahoo (NASD: YHOO) announced on Tuesday that it has acquired Maven Networks, a provider of online video syndication, content management and advertising service, for $160 million. Founded in 2002, Cambridge, Mass.-based Maven currently manages online video for over 30 media companies, including Sony BMG, CBS Sports, Hearst, Gannett, Scripps Networks and the Financial Times.

Yahoo said it intends to invest in the growth of Maven's overall video business, and bolster its video monetization services with its own ad sales force.

"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 Hilary Schneider, EVP of global partner solutions at Yahoo.

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http://biz.yahoo.com/bw/080212/20080212005624.html?.v=1

http://www.maven.net