Box acquires Streem to add streaming technology to its cloud storage prowess

Box is buying Streem, a startup specializing in streaming. Terms of the deal were not disclosed, but Box said that the four-members of Streem, a Y Combinator summer class of 2012 company, will be working with with Box’s engineering department to sync up Streem’s streaming know how with Box’s file-share and sync service.

Streem has developed amazing technology that allows you to mount a cloud drive onto your computer — making documents, presentations, videos and files available to you without the limitations of your local hard-disk, effectively turning the cloud into an “unlimited” drive.

Streem’s technology allows users to “mount a cloud drive” onto their computers so that documents, videos, files, etc. are available and their use is unconstrained by a local hard disk, wrote Box CEO Aaron Levie.

In theory, this converged service will benefit the healthcare, oil and gas and manufacturing industries where fast access to data is crucial; Streem’s technology lets a user tap into more data than what used to be stored on his hard drive, wrote Levie.

The acquisition comes rather soon for Streem, considering that in late April it raised $875 thousand in seed funding.

Earlier in May, the Los Altos-based Box signed a coveted deal with General Electric (S GE) in which GE would use Box’s file-share and storage product as its standard for 300,000 employees.

Streem’s CEO and co-founder Ritik Malhotra was a 2012 Thiel Fellow.