Limelight Networks, Inc. (NASDAQ:LLNW) shares are trading higher by 9% at $4.10 after the company announced it has entered into a definitive agreement to acquire Yahoo's Edgecast.
"By uniting Limelight and Edgecast, we are building a powerful application, content and video edge enabled solutions company that delivers improved customer performance, productivity and security for the outcome buyer," said Bob Lyons, Chief Executive Officer of Limelight.
"Together we have a strong value proposition to serve the fast-growing, yet fragmented edge solutions market and our combined capabilities will accelerate our ability to capture more share of this high growth $40 billion total TAM. In six short months we have taken our TAM from $12 billion to $40 billion and with the acquisition of Edgecast, we are further accelerating and solidifying our ability to be recognized as a leader in edge software solutions for the outcome buyer," Lyons stated.
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Limelight Networks provides a content delivery network and value-added services, that help content owners improve streaming quality, download speeds and advertising capabilities.
Limelight Networks has a 52-week high of $4.52 and a 52-week low of $2.30.
