Akamai acquires Web and mobile acceleration services provider Cotendo for $268 million
Content delivery services provider Akamai Technologies has acquired Web and mobile acceleration services provider Cotendo, for a net cash payment of approximately $268 million. The combined technology and teams of the two companies expected to help accelerate pace of innovation in cloud and mobile optimization.
As a developer of cloud-based acceleration technologies, Cotendo offers single-platform software that uses highly efficient unified proxy delivery and intelligent server software—rather than a massive CDN infrastructure—to drive optimized content delivery.
"As we look to accelerate growth across the dynamic landscapes of cloud and mobile optimization, we are excited to be joining forces with Cotendo," said Paul Sagan, president and CEO of Akamai. "Cotendo's technology, partnerships and people are a strong complement to Akamai. Together, we believe there is tremendous opportunity for our combined technologies as enterprises embrace the move to the cloud and seek solutions for an increasingly mobile world."
"By combining our innovative technology and employees with Akamai, we expect our customers and partners will gain access to a comprehensive, global platform and wider portfolio of leading-edge services supported by some of the most experienced providers in the industry," said Ronni Zehavi, CEO and co-founder of Cotendo.
Contendo was founded in 2008 by Zehavi, David Drai (CTO) and Udi Trugman (VP R&D). The istraeli startup is headquartered in Sunnyvale, CA, with a technology center in Netanya, Israel. Cotendo currently has approximately 100 employees, with over 50 based in Israel.
In July 2010 Cotendo has raised $12 million from Tenaya Capital, Sequoia and Benchmark Capital. And in June 2011 the comapny has completed a $17 million funding round from Citrix Systems, Juniper Networks, Sequoia, Benchmark and Tenaya.