updated 02:01 pm EST, Tue December 10, 2013
Yahoo snaps up another app team for video features
Internet giant Yahoo has acquired yet another small company, this time QuikIO, which provided cross-platform video streaming services, as well as an app for Apple's iOS platform. Pando Daily confirmed the acquisition this week, pointing out that the service will be shutting down by December 31 of this year. The acquisition is the latest in a string that has seen Yahoo snapping up smaller companies as it attempts to retool for a push to regain mindshare in the coming months.
QuikIO allows users to send photos, movies, music, and documents from a computer to an iPad without having to be on the same Internet connection or using a wire. It automatically converts video and audio files in order to assure iOS compatibility, and users can either store those files temporarily on their iOS device or stream it directly from a home computer.
Yahoo confirmed the acquisition, but neither party was willing to reveal the financial details of the deal. According to Pando, the deal was an acqui-hire, and the QuikIO product will not be revived inside of Yahoo.
"I can confirm that three employees from QuikIO have joined Yahoo's video team in Sunnyvale," a Yahoo person said. "We're excited to welcome the team to Yahoo and aren't going to comment further on deal terms or future plans."
As a result of the acquisition, QuikIO will be shutting down at the end of this month. The team encourages users to switch over to Plex, Tonido, Air Video, and Air Playit as alternatives.
The move is just the latest in a string of acquisitions by Yahoo since the company signed Marissa Mayer as its new CEO. Among others, Yahoo has also acquired Pitch, Qwiki, and OnThe Air.