Akamai Technologies Expands Customer Base with StackPath Acquisition
Akamai Technologies has acquired select enterprise customer contracts from StackPath as StackPath discontinues its content delivery network operations. The acquisition will allow Akamai to expand its offerings and support for customers seeking enterprise solutions for content delivery, cybersecurity, and cloud computing. The transaction is expected to add approximately $20 million in revenue and be accretive to non-GAAP earnings per share by $0.03 - 0.05 for the full year in 2024. The acquisition does not include StackPath personnel or technology, and the two companies will operate under a transition services agreement for the first 90 days.