Akamai Technologies up on buying select customer contracts from Lumen Technologies

Chunghwa Telecom Co

10/10/2023 15:40

** Cloud company Akamai Technologies'  AKAM.O  shares up
1.2% at $107.02, telecom firm Lumen Technologies  LUMN.N  rises
4.6% to $1.37
    ** Akamai says it has acquired assets, including select
content delivery customer contracts, from Lumen Technologies 
    ** Akamai says it will extend its offerings and support to
Lumen customers looking for an enterprise solution to their
content delivery needs
    ** Akamai anticipates no material impact to either revenue
or adjusted earnings per share for full-year 2023
    ** Lumen and Akamai will operate under a transition services
agreement for 90 days, after which time Lumen plans to wind down
its content delivery services
    ** As of last close, Akamai shares up ~25%, Lumen down ~75%
YTD

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com; https://twitter.com/i_jass))