Akamai Technologies acquired Linode for $900 million, a transaction completed in March 2022, structured as all cash.
Linode operates in Cloud Computing (IaaS), is based in Philadelphia, Pennsylvania, USA. Linode, a developer-focused infrastructure-as-a-service (IaaS) provider founded in 2002 by Christopher Aker, offered simple, affordable cloud compute. Akamai announced the acquisition on February 15, 2022 for approximately $900 million net of cash acquired and completed it in March 2022; the FY2022 Form 10-K reported final consideration of about $898.5 million in cash. The deal launched Akamai's expansion from edge delivery into full cloud computing.
Akamai has been a pioneer in the edge computing business for over 20 years, and today we are excited to begin a new chapter in our evolution by creating a unique cloud platform to build, run and secure applications from the cloud to the edge.
Gave Akamai a proven, developer-loved cloud compute platform to pair with its global edge network. Basis of Akamai Connected Cloud, spanning core cloud to edge. Akamai cloud computing (later Akamai Connected Cloud)
The opportunity to combine Linode's developer-friendly cloud computing capabilities with Akamai's market-leading edge platform and security services is transformational for Akamai.Dr. Tom Leighton, CEO and co-founder, Akamai Technologies
We started Linode 19 years ago to make the power of the cloud easier and more accessible. Solving those challenges requires tremendous integration and scale which Akamai and Linode plan to bring together under one roof.Christopher Aker, founder and CEO, Linode
Advisory firms were not disclosed for this transaction.