Akamai Acquires FastSoft
CAMBRIDGE, Mass., Sept. 13, 2012 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), announced today that it has acquired FastSoft Inc., a provider of content acceleration software, in a cash transaction. The acquisition is expected to complement Akamai's cloud infrastructure solutions with technology for optimizing the throughput of video – and other digital content – across IP networks.
FastSoft was launched in 2006 to commercialize network optimization technology. FastSoft's patented FastTCP algorithms improve Transmission Control Protocol (TCP), adding intelligence designed to increase the speed of dynamic page views and file transfer downloads while reducing the effects of network latency and packet loss. FastSoft's unique technology has helped improve website and web application performance across the first and last miles, as well as through the cloud, without requiring client software or browser plug-ins.
Combining FastSoft with Akamai's existing network protocols is expected to help enable Akamai to optimize server capacity, deliver higher throughput for video, and bring greater efficiency to its global platform.
"FastSoft has developed unique acceleration software that is expected to be a strong complement to Akamai," said Bill Wheaton, senior vice president and general manager, Media Division at Akamai. "Their development team possesses extensive experience in advanced TCP technology that we believe can enhance the delivery of rich media, as well as support future initiatives in the areas of mobile applications and cloud performance."
"Our content acceleration technology is used by some of the largest companies on the Internet," said Ed Snyder, CEO of FastSoft. "We are excited to join forces with Akamai in helping to make the Internet as fast as possible."
The FastSoft team will be integrated into Akamai's engineering group, establishing a Center of Excellence in Pasadena, California around network protocols and optimization technology. The acquisition is not expected to have a material impact on Akamai's financials.
Akamai® is the leading cloud platform for helping enterprises provide secure, high-performing user experiences on any device, anywhere. At the core of the Company's solutions is the Akamai Intelligent Platform™ providing extensive reach, coupled with unmatched reliability, security, visibility and expertise. Akamai removes the complexities of connecting the increasingly mobile world, supporting 24/7 consumer demand, and enabling enterprises to securely leverage the cloud. To learn more about how Akamai is accelerating the pace of innovation in a hyperconnected world, please visit www.akamai.com or blogs.akamai.com, and follow @Akamai on Twitter.
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995, including statements about expected benefits to Akamai from the acquisition. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, inability to successfully integrate the technology of FastSoft or to develop products based on the technology and other factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
SOURCE Akamai Technologies, Inc.