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| Akamai confirms Cotendo takeover |
| Friday, 23 December 2011 00:00 |
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Streaming media and cloud services provider Akamai Technologies has confirmed that it will be purchasing Cotendo, its Israel-based rival.
The agreement will see Akamai pay around $268 million (£171.04 million) to take control of Cotendo and its integrated suite of web and mobile acceleration services, with the transaction set to close in the first half of 2012. According to the two companies, this combination of capabilities will help to accelerate the pace of growth in the cloud and mobile optimisation sector, while allowing each partner to benefit from the other's expertise. Akamai is one of the largest providers of web services in the world, while Cotendo provides video streaming support for high-profile clients such as Facebook, Google and Microsoft. Paul Sagan, president and chief executive officer of Akamai, said: "Together, we believe there is tremendous opportunity for our combined technologies as enterprises embrace the move to the cloud and seek solutions for an increasingly mobile world." Posted by Kevin Smith  |