March 16, 2005 - (HOSTSEARCH.COM) -
Akamai Technologies and Speedera Networks announced today that the two companies have signed an agreement for Akamai to acquire Speedera in a stock-for-stock merger transaction. The deal is expected to take place during the second quarter of 2005.
The acquisition of Speedera is expected to enable Akamai to better compete against larger managed services vendors. Akamai and Speedera provide businesses with a platform for accessing Web computing without having to make significant upfront investments in infrastructure. The acquisition also will provide customers with a broader suite of services available.
"The combination of Akamai and Speedera will provide customers with the best attributes of both companies," said Paul Sagan, president and CEO-elect of Akamai. "Akamai and Speedera are customer-focused companies that emphasize leading-edge technology development to help businesses and government agencies to deliver more effective, higher performing, and lower cost Websites and online applications. We believe that this combination will benefit our customers, employees and shareholders."