Akamai / Speedera Networks

Akamai Technologies, Inc. today announced it has completed its acquisition of Speedera Networks, Inc., a privately held company based in Santa Clara, California. Akamai announced a definitive agreement on March 16, 2005 to acquire Speedera in a stock-for-stock transaction.

Akamai and Speedera provide businesses with a cost-effective, distributed platform for accessing Web computing and capacity on demand worldwide without having to make significant upfront investments in infrastructure. The acquisition will provide customers with a broader suite of services available on the world's largest, high-performance distributed computing platform for the delivery and acceleration of Web content and applications.

Under the terms of the agreement, Akamai has acquired all of the outstanding common stock, preferred stock, and vested and unvested stock options of Speedera and its India-based, wholly-owned subsidiary by issuing approximately 12 million shares of Akamai common stock. The transaction is designed to be effected as a tax-free reorganization for Speedera stockholders and will be accounted for by Akamai under the purchase method of accounting.

(BUSINESS WIRE)