Akamai Buys Rival Cotendo for $268M to Boost Cloud, Mobile Offerings

By Features FOXBusiness

Akamai Technology (AKAM) has inked a deal to acquire privately-held cloud-based acceleration technologies maker Cotendo for $268 million.

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The Cambridge, Mass.-based maker of products used to improve the delivery of content over the Internet said buying rival Cotendo allows it to boost its cloud and mobile offerings.  

“Together, we believe there is tremendous opportunity for our combined technologies as enterprises embrace the move to the cloud and seek solutions for an increasingly mobile world,” Akamai CEO Paul Sagan said in a statement.

Sunnyvale, Calif.-based Cotendo was founded in 2008 and employs more than 100 people, about half of which are located at its technology center in Israel. It has some big-name customers, including Facebook, Google (GOOG) and AT&T (T).

The deal is slated to close in the first half of 2012, pending customary closing conditions and regulatory approvals.

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