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Content Delivery Network Akamai to Buy Competitor Cotendo for 268 Million

(WEB HOST INDUSTRY REVIEW) -- Content delivery network Akamai Technologies announced on Thursday it will acquire rival CDN provider Cotendo for a net cash payment of approximately $268 million.

The news confirms rumors that Akamai would purchase Cotendo. At the time, it was also reported that both AT&T and Juniper Networks had expressed interest in purchasing Cotendo.

Under terms of the agreement, Akamai will acquire all of the outstanding equity of Cotendo, and after expected purchase price adjustments, plus the assumption of outstanding unvested options to purchase Cotendo common stock.