Akamai Completes Acquisition of Edgio Assets

Akamai Technologies has announced its acquisition of select assets from Edgio, following the approval from the U.S. Bankruptcy Court for the District of Delaware. The transaction, which excludes Edgio personnel, core technology, or network assets, focuses on customer contracts and non-exclusive licensing rights to Edgio's patent portfolio, as Edgio winds down its operations by mid-January 2025. This acquisition integrates hundreds of Edgio customers into Akamai's ecosystem, allowing them access to Akamai's advanced cloud computing and cybersecurity solutions. Financial projections state that Akamai expects an incremental $80-$100 million in revenue in 2025 and improved profitability from this acquisition. Transition costs for Akamai are anticipated between $25-$30 million in 2025. Edgio, which filed for Chapter 11 in September, continues to undergo a sales process with a stalking horse bid anchored at $110 million, with the goal of concluding the process in about 80 days. This acquisition strengthens Akamai's leadership in cloud delivery and cybersecurity, further elevating its service offerings.