Akamai Technologies Stock Soars, Returns 149 Percent
Akamai Technologies Announces Acquisition of Content Delivery Network Provider Limelight Networks
Acquisition will strengthen Akamai's leadership position in the content delivery market and expand its global reach
Akamai Technologies, Inc. (NASDAQ: AKAM), the leading global provider of content delivery network (CDN) services, today announced that it has entered into a definitive agreement to acquire Limelight Networks, Inc. (NASDAQ: LLNW), a leading provider of edge cloud services, for approximately $1.3 billion in cash. The acquisition is expected to close in the first half of 2023, subject to customary closing conditions, including regulatory approvals.
The acquisition of Limelight Networks will strengthen Akamai's leadership position in the CDN market and expand its global reach. Limelight Networks has a strong presence in the Asia-Pacific region, which will complement Akamai's existing strengths in North America and Europe. The combined company will have a global network of over 345,000 servers in over 130 countries, providing Akamai with the scale and reach to meet the growing demand for fast, reliable, and secure content delivery.
"The acquisition of Limelight Networks is a transformative event for Akamai," said Tom Leighton, Akamai's CEO. "Limelight Networks' strong presence in the Asia-Pacific region, combined with its expertise in edge cloud services, will enable us to provide our customers with a broader range of solutions and a truly global reach. We are excited to welcome the Limelight Networks team to Akamai and look forward to working together to create a stronger and more innovative company."
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