Akamai Technologies acquired StackPath (CDN customer contracts) for $51.2 million, a transaction completed in August 2023, structured as all cash.
StackPath (CDN customer contracts) operates in Content Delivery. In August 2023 Akamai acquired certain customer contracts from StackPath, LLC, a content-delivery-network operator, for approximately $51.2 million. Substantially all of the purchase price related to the acquired customer relationships, which Akamai transitioned onto its own delivery platform. (Value disclosed in Akamai's FY2024 Form 10-K, Asset Acquisitions.)
Intended to strengthen Akamai's existing delivery business by transitioning the acquired customers to its platform and offering them Akamai's broader portfolio of services.
Consolidated CDN customers as smaller competitors exited the market. Migrated acquired traffic onto Akamai's delivery platform. Akamai content delivery
Advisory firms were not disclosed for this transaction.