Online video technology firm ROO plans to buy Wurld Media for $10 million to add peer-to-peer distribution and social networking capability to the tools it offers media companies.

The deal should be finalized in 120 days or less, ROO said in a statement Tuesday.

Wurld Media distributes movies, games, music and TV shows using peer-to-peer technology for companies including 20th Century Fox, Warner Bros., Universal, Sony, Warner Music, EMI, Fox Music, Fox for Movies, Atari and Activision. ROO said it expects those agreements to continue.

ROO is one of the technology companies competing to help distribute media companies’ content online. Earlier this year, one of its customers, News Corp., bought a 10 percent stake in the company. Other customers include Verizon and Thestreet.com.

ROO said the Wurld Media acquisition will allow it to offer clients more ways to generate revenue, such as giving them the ability to sell download-to-own videos.

(Editor: Horowitz)