Akamai to buy Cotendo

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Akamai Technologies Inc. and Cotendo have announced that the two companies have entered into a definitive agreement for Akamai to acquire Cotendo.

Akamai is believed to provide a secure platform over which businesses can engage users across the Web, mobile, cloud, or a mix of public and private network environments, helping to mitigate the challenges of operating in a hyperconnected world. Cotendo is said to offer an integrated suite of Web and mobile acceleration services. The combination of the two companies' technologies and teams is expected to increase the pace of innovation in the areas of cloud and mobile optimization.

Under terms of the agreement, Akamai is said to acquire all of the outstanding equity of Cotendo in exchange for a net cash payment of approximately $268 million, after expected purchase price adjustments, plus the assumption of outstanding unvested options to purchase Cotendo common stock. The closing of the transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to occur in the first half of 2012.


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