Yahoo has acquired Maven Networks, a specialist in video-based advertising on the Web, for approximately $160 million.
Meanwhile, after Yahoo rejected Microsoft’s takeover bid, Microsoft issued a statement that suggests it will take its original $44.6 billion offer directly to investors.
Maven’s Internet TV platform provides automated ad insertion in video streams based on a set of rules that are designed to transmit the ad presumed to be the most appropriate based on each customer’s statistics and online behavior.
Maven’s system is used by more than two dozen media companies, including CBS Sports, CBC, CNET, Gannett, The Financial Times, Fox Business Network, Fox News, Hearst, MediaNews Group, Ogilvy, Scripps Networks, Sony BMG, Sony Pictures Television and TV Guide.
Maven will become a wholly owned subsidiary of Yahoo. Yahoo said it 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, both of which help them maximize their video advertising dollars.
As for Microsoft’s attempt to buy Yahoo, Yahoo rejected the $31 per share offer as too low. Microsoft responded that the offer was “full and fair.”
A Microsoft statement said: “The Yahoo response does not change our belief in the strategic and financial merits of our proposal. As we have said previously, Microsoft reserves the right to pursue all necessary steps to ensure that Yahoo’s shareholders are provided with the opportunity to realize the value inherent in our proposal.”
The response suggests that Microsoft will opt not to sweeten the offer, but to take it directly to investors.
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