Akamai Technologies Inc

NASDAQ:AKAMUnited States

Nov 15, 2024

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• Akamai Technologies to Acquire Select Edgio Assets Via Bankruptcy Sale, from 9:05AM ET on Friday Nov 15, 2024 by MT Newswires

  9:05AM ET on Friday Nov 15, 2024 by MT Newswires
  Companies Mentioned: AKAM
  09:05 AM EST, 11/15/2024 (MT Newswires) -- Akamai Technologies (AKAM) said Friday it is the winning bidder to acquire select assets from Edgio's bankruptcy sale. The assets to be acquired include customer contracts from Edgio's businesses in securit...

• Akamai Announces Winning Bid for Select Assets of Edgio, from 8:32AM ET on Friday Nov 15, 2024 by PR Newswire

  8:32AM ET on Friday Nov 15, 2024 by PR Newswire
  Companies Mentioned: AKAM

  Akamai (NASDAQ: AKAM), the cybersecurity and cloud computing company that powers and protects business online, today announced it is the winning bidder to acquire select assets from Edgio, including customer contracts from Edgio's businesses in security and content delivery, and non-exclusive license rights to Edgio's entire patent portfolio. No assets related to the Edgio network would be acquired as part of the bid. Pursuant to Edgio's filing for Chapter 11 bankruptcy relief on September 9, 2024, Edgio initiated a 363 bankruptcy sale procedure for qualified bidders to bid for the company's assets. The 363 sale auction was concluded on November 13, 2024, and winning bids were declared. The court hearing to consider approval of the sale transaction is currently set for November 25, 2024. Following court approval, the parties can proceed with closing the transaction. Akamai anticipates providing additional information regarding the expected financial impact from assets purchased as part of the transaction once approved by the court.