In an announcement made after the end of trading on Friday, Internet firm Yahoo has revealed that it is purchasing Israel-based video streaming service RayV. The financial terms of the acquisition deal have not been officially disclosed.

The acquisition of 2005-founded RayV by Yahoo implies that Yahoo evidently plans to capitalize on the popularity of the HD video streaming service, which will being almost a decade of experience in digital video delivery to Yahoo.

In addition, the online-video startup - which has revolutionized the way people perceive video streaming on the Internet - also boasts a suite of software which offers the infrastructure that is apparently required by Yahoo for becoming a premier video-content provider.

According to some reports, Yahoo plans to incorporate the video streaming service to its platforms such as Cloud.

With regard to the RayV acquisition, Yahoo executive P. P. S. Narayan said in a blog post that Yahoo is "focused on building a video offering that delivers best-in-class quality and content, and can be streamed on-demand and live, on all platforms;" and added: "The RayV team shares our passion for innovation and commitment to build a video infrastructure to deliver the ultimate video experience to our users."