Juniper Networks not to acquire Cotendo
Mar 07, 2012 (Datamonitor Financial Deals Tracker via COMTEX) --
Akamai Technologies, Inc., a provider of cloud-based services for delivering content and applications over the internet, has acquired Cotendo, Inc., a provider of content delivery network and site acceleration services. Both the companies are based in the US.
Update on December 22, 2011:
Akamai Technologies has signed a definitive agreement to acquire Cotendo.
Under terms of the agreement, Akamai will acquire all of the outstanding equity of Cotendo in exchange for a net cash payment of approximately $268 million, after expected purchase price adjustments, plus the assumption of outstanding unvested options to purchase Cotendo common stock. The closing of the transaction is expected to occur in the first half of 2012.
Rumor (November 27, 2011):
According to Globes, media sources reported that Juniper Networks, Inc., a US-based provider of Internet protocol networking and security products, is one among the bidders to acquire Cotendo.
Cotendo is backed by investors including Benchmark Capital, Sequoia Capital, Tenaya Capital, Presidio Ventures, Inc., Citrix Systems, Inc. and Junos Innovation Fund, a fund managed by Juniper Networks.
Reportedly, AT&T, Inc. and Akamai Technologies, Inc. are also in the race to bid for Cotendo.
Deal Type Acquisition
Sub-Category Majority Acquisition
Deal Status Dead Rumour: 2012-03-06
Target (Company) Cotendo, Inc.
Acquirer (Company) Juniper Networks, Inc.
Vendor (Company) Citrix Systems, Inc.
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