Thursday, June 13, 2024

Akamai closes Netli acquisition

CAMBRIDGE, Mass. (AP) – Akamai Technologies Inc., whose services are used to stream video and multimedia content over the Internet, said Wednesday it completed its acquisition of Netli Inc., a privately-held network infrastructure service provider.

The company agreed to buy Mountain View, Calif.-based Netli in February for 3.2 million of its shares. The deal was worth about $177.8 million. based on Akamai’s stock price at the time it was announced, but the company’s stock price has dropped more than 7 percent since.

Akamai’s shares rose 35 cents to close $51.85 on the Nasdaq Stock Market.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Sam Allcock
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