US firm Akamai, a global provider of Content Delivery Network (CDN) services, has signed a definitive agreement to acquire near-neighbour Verivue in an all-cash transaction.
Verivue will be folded into Akamai’s Aura Network Solutions in order to accelerate its time to market in providing a comprehensive, licensed content delivery network (CDN) solution for network operators.
“Verivue has done an impressive job of building a licensed content delivery infrastructure and getting it deployed with several important operators,” said Mick Scully, Vice President and General Manager of Akamai’s Carrier Products Division.
With both companies based in the state of Massachusetts, Akamai should retain a large part of Verivue’s existing workforce of around 60 employees.
Total amount being paid by Akamai to acquire Verivue was not disclosed by the two companies. The transaction is expected to close by the end of 2012.