CAMBRIDGE, Mass., Nov. 15, 2024 /PRNewswire/ — Akamai (NASDAQ:AKAM, news, filings), 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.
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