US-based Akamai Technologies is set to acquire Verivue, a third party web and network hosting company backed by Comcast Interactive Capital, in a cash transaction. The financial terms have not been disclosed and the deal is set to conclude sometime in late December.
Akamai Technologies offers third party hosting and streaming services for websites and network operators. It’s acquisition of Verivue is expected complement Akamai’s existing intellectual property and accelerate Akamai’s time to market in providing custom content delivery solutions for clients.
Verivue was founded in 2006 and specialises in software platforms designed to manage and distribute online media traffic. Verivue has to date raised more than $85m in three venture rounds. Investors included corporations Comcast, via its corporate venturing fund Comcast Interactive Capital, and telecommunications equipment manufacturer Arris Group, as well as venture capital firms Accel Partners, North Bridge Venture Partners, Matrix Partners and Spark Capital.
Mick Scully, vice president and general manager of Akamai’s Carrier Products Division said: “We believe joining forces with Verivue will allow us to help operators maximize content revenues and network efficiencies as the flood of media and video traffic increases.”