Facebook will acquire LiveRail, a video-advertising technology company, as the social giant looks to dramatically expand its video advertising business.

Terms of the deal were not disclosed. Facebook is paying between $400 million and $500 million for LiveRail, TechCrunch reported. Customers of LiveRail, founded in 2007, include Major League Baseball, CBS Interactive, ABC Family, A+E Networks, Gannett, Dailymotion and Songza. The company claims it delivers more than 7 billion ad impressions monthly.

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