Limelight Networks to acquire Yahoo's Edgecast in deal valued at $300 mln

Edgio

07/03/2022 13:47

** Shares of content delivery network (CDN) service provider
 LLNW.O  up 8% at $4.06 premarket 
    ** LLNW to acquire rival service Edgecast; deal values
Edgecast at about $300 mln
    ** Edgecast is a business unit of Yahoo, which is owned by
funds managed by affiliates of Apollo  APO.N  and telecom firm
Verizon Communications  VZ.N  
    ** Yahoo will receive ~72.2 mln shares of Limelight common
stock and will own approximately 31.9% of combined company at
closing - LLNW
    ** Limelight will rebrand as Edgio, with combined company
continuing to operate as Edgio following close of the deal 
    ** APO down 0.3% premarket while VZ falls 0.4%
    ** The deal is expected to close by June  urn:newsml:reuters.com:*:nPn7cLbrla
    ** As of last close, LLNW gained 9.6% YTD
    

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.Mathews@thomsonreuters.com;))