Akamai to Buy Speedera in Stock Deal
Akamai says the $130 million acquisition will help it compete against larger managed services vendors.Akamai Technologies Inc. Wednesday announced plans to acquire distributed content delivery service provider Speedera Networks Inc. in a stock-for-stock merger transaction. Under the terms of the deal, valued at $130 million, Akamai will acquire all of the outstanding common stock, preferred stock, and vested and unvested stock options of Speedera and its India-based, wholly-owned subsidiary, by issuing approximately 12 million shares of Akamai common stock, the companies said. The deal is expected to close at the end of the second quarter, pending regulatory and Speedera stockholders approval, the companies said.
Officials at Cambridge, Mass.-based Akamai said the acquisition of Speedera, of Santa Clara, Calif., will help Akamai to better compete against larger managed services vendors.