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Akamai Technologies Acquires Select Enterprise Customer Contracts from StackPath
CAMBRIDGE, Mass., Aug. 24, 2023 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today
About this update from Akamai Technologies, Inc.
[{"type":"text","content":"CAMBRIDGE, Mass., Aug. 24, 2023 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today announces that it has acquired assets including select enterprise customer contracts from StackPath, following StackPath's decision to cease its content delivery network operations. In providing the ability to leverage the world's most distributed edge and cloud platform, Akamai will extend its standard offerings and support to customers looking for an enterprise solution to their content delivery, cybersecurity and cloud computing needs.\n\n \n \n \n \n \n \n\n \n\"We look forward to welcoming these new enterprise customers and providing them immediate access to the agility and scale of Akamai Connected Cloud to create and deliver flawless digital experiences,\" said Adam Karon, chief operating officer and general manager of Akamai's Cloud Technology Group. \"In migrating to Akamai Connected Cloud, StackPath's enterprise CDN customers will also have the opportunity to tap into the full portfolio of Akamai security and cloud computing solutions to help them power and protect their businesses into the future.\"\nThrough the acquisition of approximately 100 enterprise customer contracts, Akamai anticipates this transaction will add approximately $20 million in revenue and be accretive to non-GAAP earnings per share by $0.03 - 0.05 for the full year in 2024. Akamai anticipates no material impact on both revenue and non-GAAP earnings per share for the third quarter or full-year 2023.\nThe transaction does not include the acquisition of StackPath personnel or technology. The two companies will be operating under a transition services agreement for the first 90 days.\nAbout Akamai\nAkamai powers and protects life online. Leading companies worldwide choose Akamai to build, deliver, and secure their digital experiences — helping billions of people live, work, and play every day. Akamai Connected Cloud, a massively distributed edge and cloud platform, puts apps and experiences closer to users and keeps threats farther away. Learn more about Akamai's cloud computing, security, and content delivery solutions at akamai.com and akamai.com/blog, or follow Akamai Technologies on Twitter and LinkedIn.\nUse of Non-GAAP Financial Measures\nIn addition to providing financial measurements based on g...