This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Verizon Plans To Acquire EdgeCast Networks

NEW YORK, Dec. 9, 2013 /PRNewswire/ --  Driving to deepen and enhance its video delivery and Web services capabilities, Verizon today announced a definitive agreement under which the company will acquire EdgeCast, an industry leader in content delivery networks.

Verizon Digital Media Services will integrate EdgeCast complementary capabilities to further improve and increase its ability to meet the exponential growth in online digital media content, as well as broaden its portfolio of site acceleration services for digital enterprises.

The Verizon and EdgeCast boards of directors have approved this acquisition and Verizon hopes to finalize it in early 2014. Verizon's financial adviser for this acquisition was LionTree Advisors LLC.

"The combination of EdgeCast and Verizon Digital Media Services will allow us to fully exploit and accelerate growth in Internet media consumption and online business performance," said Bob Toohey, president of Verizon Digital Media Services. "EdgeCast's industry-leading technology and strategically placed assets, combined with Verizon Digital Media Services' video solutions, improves our ability to deliver the rich, reliable and quality digital media services that our customers have come to expect."

EdgeCast has more than 6,000 accounts and serves some of the world's leading Web brands for global media delivery and acceleration services.

Listed for the second consecutive year as one of the Deloitte Technology Fast 500, EdgeCast ranked as the No.1 fastest-growing Internet company in 2012, and in 2013 ranked No. 87 among the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America, based on percentage fiscal-year revenue growth from 2008 to 2012.

"Having journeyed from startup to technology leader in a short seven years, the time is right for EdgeCast to elevate itself again by joining Verizon to continue our innovation and growth," said Alex Kazerani, EdgeCast chairman and chief executive officer.

This acquisition will further strengthen Verizon Digital Media Services' ability to deliver content and site acceleration services to customers that include studios, broadcasters, retailers and enterprises seeking quality high-performance digital experiences across all devices.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs