Akamai Technologies announced on November 15, 2024, that it is the winning bidder to acquire select assets from Edgio. These assets include customer contracts from Edgio's security and content delivery businesses, as well as non-exclusive license rights to Edgio's entire patent portfolio. No assets related to the Edgio network would be acquired as part of this bid.
The bid followed Edgio's filing for Chapter 11 bankruptcy relief on September 9, 2024, and a subsequent 363 bankruptcy sale procedure. The auction concluded on November 13, 2024, with Akamai declared the winning bidder. A court hearing to approve the sale transaction is set for November 25, 2024.
Akamai anticipates providing additional information regarding the expected financial impact from the purchased assets once approved by the court. If approved, the transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. This acquisition is expected to consolidate Akamai's position in the content delivery and security markets.
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