Verizon Nabs EdgeCast To Boost Video, Web Capabilities

Law360, New York (December 09, 2013, 5:36 PM ET) -- New York-based Verizon Communications Inc. said Monday that it will acquire content delivery services company EdgeCast Networks, in a deal designed to help Verizon strengthen its video delivery and Web services capabilities.

The financial terms of the deal weren't provided, but technology news site TechCrunch reported Sunday that the companies were near a deal worth about $350 million. According to a Monday press release from Verizon, the deal, which is expected to close in early 2014, has already been approved by both companies' board of directors....
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