Facebook Purchases QuickFire-The Video Startup Firm

Facebook has revealed that it bought QuickFire Networks, a startup that helps view high-quality video with low bandwidth.

Althouh QuickFire announced the acquisition on its blog on Thursday, neither Facebook nor QuickFire discloses the terms of the deal.

QuickFire revealed on its site: “We’re excited to announce today that we are joining Facebook.”

Facebook’s acquisition of the video technology company comes a day after it said in a blog it averaged more than 1 billion video views every day since June 2014.