Akamai Acquires Red Swoosh
CAMBRIDGE, MA - Akamai Technologies, Inc. (NASDAQ: AKAM) announced today that it has acquired Red Swoosh, Inc. in an all-stock merger transaction. The acquisition of Red Swoosh is valued at approximately $15 million, net of cash acquired.
Over the last six years, Red Swoosh has developed innovative client-side technology for supporting the management and distribution of media files in a controlled fashion, respecting the rights restrictions and copyrights of all publishers. By providing a controlled environment with effective business rules, Red Swoosh’s technology is designed to empower content publishers and distributors to manage and monetize large-file distribution to edge devices, such as set top boxes and personal computers.
The acquisition of Red Swoosh is expected to augment Akamai’s distributed Internet presence by combining client-side file management and distribution software with Akamai’s scalable backend control system and global network of edge servers. The Red Swoosh team will be integrated into Akamai’s existing engineering team in California.
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