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Akamai Technologies Inc. of Cambridge plans to acquire California-based content delivery network firm Cotendo Inc. for $268 million in cash.
In a release issued today, Akamai (Nasdaq: AKAM) said the two companies have signed a definitive agreement on the purchase of Sunnyvale-based Cotendo. According to Akamai, Cotendo has approximately 100 employees, with more than half of them based at an R&D center in Israel.
Paul Sagan, president and CEO of Akamai, said in the release combining Cotendo's integrated web and mobile CDN technology with Akamai's would give them a boost as "enterprises embrace the move to the cloud and seek solutions for an increasingly mobile world."
In addition to the $268 million in cash, the deal - which is expected to close in the first half of 2012 - includes having Akamai assume outstanding unvested options to purchase Cotendo common stock. Cotendo was founded in 2008.
Akamai in October announced a partnership with Germany-based Netbiscuits, a provider of tools for mobile site creation and publishing. The partnership will provide better options for developers and sites that require higher levels of self service and control, Akamai said.
Sagan was named a Mass High Tech All-Star for 2011.
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