Akamai Technologies Acquires Select Assets From Lumen Technologies

RTTNews | 634 days ago
Stocktwits
Akamai Technologies Acquires Select Assets From Lumen Technologies

(RTTNews) - Cloud company Akamai Technologies, Inc. (AKAM) announced Tuesday that it has acquired assets, including select content delivery customer contracts, from Lumen Technologies, Inc. (LUMN).

Akamai will extend its offerings and support to Lumen customers looking for an enterprise solution to their content delivery needs, providing them the ability to leverage the world's most distributed cloud platform.

Through the acquisition of these customer contracts, Akamai anticipates this transaction will add approximately $40 million to $50 million in revenue and be accretive to adjusted earnings per share by $0.08 to $0.12 for the full year in 2024.

The transaction does not include the acquisition of Lumen personnel or technology. The two companies will be operating under a transition services agreement for the first 90 days, after which time Lumen plans to wind down its content delivery services.

Tags: AKAM LUMN
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