CAMBRIDGE, Mass., Nov. 15,
2024 /PRNewswire/ -- 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.
If the court approves, the transaction would be expected to
close in the fourth quarter of 2024, subject to customary closing
conditions for a transaction of this type.
About Akamai
Akamai is the cybersecurity and cloud
computing company that powers and protects business online. Our
market-leading security solutions, superior threat intelligence,
and global operations team provide defense-in-depth to safeguard
enterprise data and applications everywhere. Akamai's full-stack
cloud computing solutions deliver performance and affordability on
the world's most distributed platform. Global enterprises trust
Akamai to provide the industry-leading reliability, scale, and
expertise they need to grow their business with confidence. Learn
more at akamai.com and akamai.com/blog, or follow Akamai
Technologies on X and LinkedIn.
Akamai Statement Under the Private Securities Litigation
Reform Act
This press release contains statements that are
not statements of historical fact and constitute forward-looking
statements for purposes of the safe harbor provisions under The
Private Securities Litigation Reform Act of 1995, including, but
not limited to, statements about the terms of the transaction, its
approval by the bankruptcy court and the expected closing date of
the transaction. Each of the forward-looking statements is subject
to change as a result of various important factors, many of which
are beyond the company's control, including, but not limited to:
the bankruptcy court's approval process; the risk that the
transaction may not be completed in a timely manner or at all; the
parties' ability to satisfy closing conditions; the occurrence of
any event, change or other circumstance that could give rise to the
termination of the transaction agreements; changes to economic,
political and regulatory conditions in the United States or internationally; and
other factors that are discussed in the company's most recent
Annual Report on Form 10-K, subsequent quarterly reports on Form
10-Q and other documents filed with the Securities and Exchange
Commission. All information provided in this press release is as of
the date of this press release, and Akamai does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
Media Contacts
Akamai PR
AkamaiPR@akamai.com
Investor
Relations
IR-InvestorRelations@akamai.com
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SOURCE Akamai Technologies, Inc.