Yahoo to Acquire Maven Networks for $160M-$170M

Yahoo is close to acquiring enterprise video startup Maven Networks for between $160 million and $170 million, according to sources familiar with the deal. TechCrunch was first to print word of the acquisition.

Maven provides video hosting and distribution services for Gannett, Hearst, Fox News, Sony BMG, the Financial Times, Univision, TV Guide, and others. Maven CEO Hilmi Ozguc spoke at our NewTeeVee Live conference in November. Ozguc told us in an interview last fall, “We’re growing at a breakneck pace quarter to quarter. Media companies have needs but they don’t have technology experience. It is rocket science, it’s difficult, and that’s what we’re very good at.”

Maven had some $30 million in funding from Prism Venture Partners, Accel Partners, and General Catalyst Partners, having raised a $12 million Series C round in 2006. The company recently expanded its video advertising platform. It has a backend partnership with thePlatform, which is owned by Comcast.

Brightcove CEO Jeremy Allaire was an adviser to Maven before he stepped down to start Brightcove, after which the companies evolved to become quite similar to each other.

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