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Print Edition StoriesCDNetworks Co Ltd., a Korea-based content delivery network service provider with its East Coast office in Boston, has acquired New York-based rival Panther Express Inc. for an undisclosed amount.
The deal is expected to extend CDNetworks’ position in both North America and Europe, serving companies sending their content all over the world, according to the company.
Founded in 2005, Panther Express has raised $22 million in funding. The company is backed by Waltham-based venture firm Greylock Partners, as well as Swiss firm Index Ventures and California-based Gold Hill Capital Management, which also has an office in Boston.
Content delivery networks are arrays of servers across the globe that help companies deliver online content quickly and efficiently over the Internet. For some time, Cambridge-based Akamai Technologies Inc. and California-based LimeLight Networks Inc. have been considered the leaders in the space, but over the past year, CDNetworks has been gaining ground, according to industry insiders.
Originally launched in Korea in 2000 and focused on the Asia-Pacific market, CDNetworks opened its first U.S. office in 2007, and boasts approximately 270 employees.
CDNetworks is publicly-traded on the KOSDAQ, a securities trading board in South Korea. The company reported $39.6 million in revenue in 2007.
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