Akamai to Acquire Network24 in US$200M Deal

Akamai Technologies Inc., which makes software to speed up Internet traffic, will acquire e-broadcast company Network24 Communications for US$200 million, Akamai announced today.

When the purchase is completed, Akamai will own Network24's Qcast, a Web-based broadcasting application, which will broaden Akamai's EdgeAdvantage product line.

The Webcast application includes tools for audience management, broadcast management, network management, and feedback, which includes live Q&A and chat features.

The acquisition will mainly be a stock-for-stock merger, with Akamai issuing stock worth $230 per share, as well as $12.5 million in cash, according to a press release.

Last week, Akamai announced it will boost its presence in Europe, where it currently has servers deployed in 17 countries in the region, spanning the networks of 27 different telecommunications operators. [See "Akamai Boosts European Presence," Jan. 12.]In total, Akamai has 2,000 servers in 40 countries, spanning 100 telecommunication networks.

Akamai, in Cambridge, Massachusetts, can be reached via the Web at http://www.akamai.com.

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