Akamai Technologies Inc. (NASDAQ: AKAM), Akamai a provider of a platform over which businesses can engage users across the Web, mobile, cloud, or a mix of public and private network environments, is acquiring Cotendo, a Sunnyvale, Calif.-based web and mobile acceleration services provider, for $268m.
Founded in 2008, Cotendo offers an integrated suite of Web and Mobile Acceleration Services from its global distributed points of presence (POPs). Its single platform software includes acceleration services for dynamic web applications, static and dynamic web content, SSL, Advanced DNS, Adaptive Image Compression, performance monitoring and automatic failover as well as real-time reports and analytics. The company currently has approximately 100 employees, with over 50 based in Israel, where it operates a technology center. Led by CEO and co-founder Ronni Zehavi, it has raised venture capital funding from Sequoia Capital, Benchmark Capital and Tenaya Capitalis (read here).
Commenting on the transaction, which is still subject to customary closing conditions, including regulatory approvals, expected to occur in the first half of 2012, Paul Sagan, president and CEO of Akamai, said: “…We are excited to be joining forces with Cotendo.
“Cotendo’s technology, partnerships and people are a strong complement to Akamai.
“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”.