Akamai Technologies acquired Lumen (CDN customer contracts) for $79.7 million, a transaction completed in October 2023, structured as all cash.
Lumen (CDN customer contracts) operates in Content Delivery. In October 2023 Akamai acquired certain content-delivery customer contracts from Lumen Technologies, Inc. for approximately $79.7 million as Lumen wound down its CDN business. Substantially all of the purchase price related to the acquired customer relationships, transitioned to Akamai's platform. (Value disclosed in Akamai's FY2024 Form 10-K, Asset Acquisitions.)
Intended to strengthen Akamai's existing delivery business by integrating the acquired customers and offering them Akamai's broader portfolio of services.
Captured CDN customers from a competitor exiting the business. Migrated acquired traffic onto Akamai's delivery platform. Akamai content delivery
Advisory firms were not disclosed for this transaction.