Yahoo Japan and Ooyala, an online video technology company, jointly announced that they have entered a multi-year technology and distribution partnership agreement. Financial terms were not disclosed. Yahoo (YHOO) owns a stake in Yahoo Japan, but the latter operates independently. Under the agreement, Yahoo Japan will standardize Ooyala's technology on its Web sites for video delivery, ad services and subscriptions. The companies will work together to get optimized business results for clients such as Japanese broadcasters, publishers, advertisers, and content creators. Shares of YHOO are down 4.30% to $16.90.

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