Yahoo has acquired PeerCDN, a peer-to-peer content delivery network (CDN) for the web browser, in a drive to boost its media efforts.

The Internet giant seems to be on an acquisition spree with the purchase of so several companies in a short span of time. The company recently acquired Ptch and Evntlive, and is also said to be eying Imgur. The the company's latest acquisition is a California-based startup, PeerCDN, which helps companies' servers to create fast response times and lower bandwidth costs.

"Today, we are thrilled to announce that we are joining Yahoo. We've found that they share our passion for excellent web experiences, as well as our love for web technologies like WebRTC, HTML5, and JavaScript. We're excited by the possibilities - together we'll be able to create even more amazing web experiences," per a statement released by PeerCDN.

In the current Internet world, most websites want to offer rich media content such as music, videos and more, quickly and smoothly to users. Yahoo also aims towards the same objective, which means a lot of bandwidth. The acquisition of PeerCDN team will enable Yahoo to work on strengthening its communications and networking efforts.

"The team has a solid background in domain expertise and a passion for video that makes them a perfect fit for Yahoo," a Yahoo spokesperson said in a statement.

PeerCDN was founded by Stanford engineering alumni Feross Aboukhadijeh, Abi Raja and John Hiesey. The company claims that they can reduce bandwidth costs by up to 90 percent by offloading the most of the hosting burden to the site visitors.

However, the acquisition of PeerCDN is slightly different than the company's recent buyouts of companies. Unlike online video companies such as Ptch and Evntlive, which are consumer-focused, PeerCDN works more in the background but improves a user's site visiting experience.

PeerCDN's acquisition should help Yahoo's media goals in delivering its entertainment and news content, which is currently in the works.

All the three engineers and co-founders of PeerCDN will join Yahoo's headquarters in Sunnyvale, California.

Shares of Yahoo closed up 1.34 percent at $40.04 on the NASDAQ on Wednesday.