Akamai Snaps Up Cloud Accelerator For $268M

Law360, New York (December 22, 2011, 6:43 PM EST) -- Internet business services provider Akamai Technologies Inc. inked a $268 million deal to acquire California cloud-computing speedster and one-time rival Cotendo, according to an announcement Thursday.

Under the terms of the acquisition, which is expected to close in the first half of next year, Akamai will acquire all Cotendo's outstanding equity.

Cambridge, Mass.-based Akamai hopes Cotendo's technology will help improve the function, security and reach of the Akamai Intelligent Platform, a suite of Internet services Akamai sells to businesses to improve their Web presence, the tech...
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