Brief: Limelight To Acquire Yahoo's Edgecast, Creating Global Leader In Edge Enabled Software Solutions

Edgio

07/03/2022 12:33

March 7 (Reuters) - Limelight Networks Inc  LLNW.O :
    * LIMELIGHT TO ACQUIRE YAHOO'S EDGECAST, CREATING GLOBAL
LEADER IN
EDGE ENABLED SOFTWARE SOLUTIONS
    * LIMELIGHT NETWORKS INC - COMBINED COMPANY TO OPERATE AS
EDGIO
    * LIMELIGHT NETWORKS INC - TRANSACTION VALUES EDGECAST AT
APPROXIMATELY $300 MILLION
    * LIMELIGHT NETWORKS INC - YAHOO TO RECEIVE ALL STOCK AND
WILL
INVEST $30 MILLION DEMONSTRATING CONVICTION IN COMBINED
COMPANY'S GROWTH PLANS
    * LIMELIGHT NETWORKS INC - YAHOO WILL OWN 31.9% OF PRO FORMA
COMPANY AND APPOINT THREE DIRECTORS
    * LIMELIGHT NETWORKS INC - BOB LYONS WILL CONTINUE TO LEAD
EDGIO
AS CEO AFTER COMBINATION
    * LIMELIGHT NETWORKS - PURCHASE PRICE ALSO INCLUDES $30
MILLION
INVESTMENT IN COMBINED CO BY APOLLO AND THEIR CO-INVESTORS,
THROUGH THEIR OWNERSHIP OF YAHOO
    * LIMELIGHT NETWORKS - EDGIO BOARD, WHICH WILL EXPAND TO
NINE
MEMBERS POST-CLOSING OF DEAL, WILL INCLUDE 3 NEW MEMBERS
APPOINTED BY APOLLO FUNDS

Source text for Eikon:  ID:nPn7cLbrla 
Further company coverage:  LLNW.O 

 ((Reuters.Briefs@thomsonreuters.com;))