Yahoo has acquired an web-based video editing site called Jumpcut in order to strengthen its Yahoo! Video offering.

Jumpcut, which was launched just 6 months ago, gives web users the ability to edit their own content and other videos without downloading or installing software.

In Yahoo’s statement about the acquisition, the company said Jumpcut gives users a way to make multimedia mashups of different types of video.

In Jumpcut’s statement, the company wrote, “Joining forces with Yahoo! Video will provide the resources to bring Jumpcut users and our partners more great social media experiences. As part of Yahoo! we’ll be working on bringing video editing and remixing to everyone with an Internet connection”.

Although integrating Jumpcut’s features into Yahoo! Video will mean that the site has something none of the other big video sharing sites can offer yet, Yahoo! Video has a long way to go in order to compete with You Tube, who has twice the number of visitors to MySpace, who in turn has twice the number of hits than land on Google Video.