Yahoo to acquire online video platform co. Maven Networks for $160M

Yahoo Inc. Tuesday agreed to acquire privately-held online video platform application provider Maven Networks for about $160 million.

The company said the deal for Maven, which is headquartered in Cambridge, Mass., will allow it to expand consumer video and advertising experiences on its main Web site as well as its network of video publishers.

Shares of Yahoo, which Monday spurned an unsolicited acquisition bid from Microsoft, closed Monday at $29.87.

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- Posted: 2008-02-12 09:24:18

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