Akamai splashes out $15 million on Red Swoosh acquisition
Akamai's thirst for acquisition has not yet been quenched as the company complements its recent purchase of Netli by buying Red Swoosh.
Akamai Technologies today confirmed that it has acquired Red Swoosh, which creates client-side technology to support to management and distribution of media files, in an all-stock merger deal worth $15 million.
Additional details of the acquisition, such as timeframes, have not been made public as yet, but the company has confirmed that Red Swoosh staff will be integrated into Akamai's existing California-based engineering team.
"The acquisition of Red Swoosh is expected to augment Akamai's distributed internet presence by combining client-side file management and distribution software with Akamai's scalable backend control system and global network of edge servers," the company said in a statement announcing its latest purchase.
Red Swoosh is not the first company that Akamai has set its sights on this year.
Just last month, Akamai completed the acquisition of Netli, which it bought to enhance its own application acceleration solutions to help grab a chunk of a market that analyst Gartner expects to be worth $3.3 billion in 2010.
"We believe the majority of today's successful enterprises doing business online require both content and application acceleration," Paul Sagan, Akamai's president and chief executive said at the time.
"With our acquisition of Netli now complete, we are excited to add more value to our portfolio of managed services. Netli has developed important technology and operational expertise in the area of application acceleration, and by combining our efforts we expect to offer a compelling and comprehensive set of solutions."
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