August,
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Congratulations.....!!!
Here's some more news on AKAM, they seem to be doing something right....?
How does this factor into your comments?
Chip
Akamai Completes Acquisition of INTERVU; Akamai Becomes Largest Internet Streaming Media and Broadband Content Delivery Company With Over 1,000 Customers
CAMBRIDGE, Mass., Apr 20, 2000 (BUSINESS WIRE) -- Akamai Technologies, Inc.
(NASDAQ: AKAM), the leading provider of global, high performance services for
the delivery of interactive Internet content, streaming media, and Internet
applications, announced today that it has completed its acquisition of INTERVU
Inc., the leading service provider for Internet audio and video delivery
solutions.
Under the terms of the stock-for-stock acquisition, each share of INTERVU common
stock was exchanged for 0.5957 shares of Akamai common stock. Akamai has now
become the world's largest Internet streaming media and broadband content
delivery services company.
George Conrades, chairman and CEO of Akamai said, "This is a monumental day for
both companies, and solidifies Akamai's position as a leader in Internet
streaming. Akamai sees the Internet as the next broadcast medium, and the rapid
adoption of our interactive content and streaming media delivery services by
hundreds of leading eBusinesses supports our view. The acquisition of INTERVU
adds critical mass to Akamai's end-to-end interactive broadcast platform. We
believe our new, combined company is best positioned in the market to offer the
next generation of interactive streaming solutions."
With the completion of the merger, Akamai now has:
- Over 1,000 current customers, making Akamai the largest Internet
streaming media and content delivery company; - The world's largest content
delivery network with over 3,000 Web
servers deployed today; - A global, fault-tolerant network that spans 150
individual
telecommunications networks in more than 45 countries; - Over 850 total
employees, including over 300 sales and sales
support individuals, and more than 200 engineers; and - The most comprehensive
streaming media services and
applications supporting today's popular formats.
As a result of the completed acquisition, Akamai's customer base includes many
of today's leading businesses such as Apple, CBS Corporation, CNN, General
Motors, IBM, Microsoft, NBC, Paramount Digital Entertainment, Quokka Sports, and
Turner Broadcasting. Former INTERVU customers will automatically be migrated to
Akamai's world-class customer care program. These companies can now take
advantage of Akamai's broad range of end-to-end interactive broadcast services,
including signal acquisition, production, encoding and delivery, as well as
eBroadcast services to manage and monitor live and on-demand Internet broadcasts
related to eLearning, corporate communications, and sales and marketing.
"CNN Interactive relies on services from both Akamai and INTERVU to ensure that
we continue to deliver the most reliable high-performance online news service,"
said Monty Mullig, senior vice president of Internet Technologies, CNN.
"Combined, INTERVU and Akamai deliver technology that helps CNN.com provide
users with one of the best online news video and Web experiences available."
Akamai's headquarters will remain in Cambridge, MA, with offices in more than a
dozen cities, including Atlanta, Chicago, Cupertino, London, Los Angeles,
Munich, New York, Paris, San Diego, San Mateo, Seattle, and the Washington D.C.
area.
About Akamai
Akamai is the foremost provider of distributed content, streaming media, and
applications delivery services, serving over 1000 customers. Akamai has deployed
the broadest global network for content, streaming media, and applications
delivery with more than 3,000 servers in over 45 countries directly connected to
more than 150 different telecommunications networks. Akamai (pronounced AH kuh
my) is Hawaiian for intelligent, clever and cool.
The release contains information about future expectations, plans and prospects
of Akamai's management that constitute forward-looking statements for purposes
of the safe harbor provisions under The Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from those indicated by these
forward-looking statements as a result of various important factors including,
but not limited to, the dependence on Akamai's Internet content delivery
service, Akamai's ability to effectively and efficiently integrate INTERVU in
its operations, a failure of its network infrastructure, the complexity of its
service and the networks on which the service is deployed, the failure to obtain
access to transmission capacity and other factors that are discussed in the
Company's Annual Report on Form 10-K and other documents periodically filed with
the SEC.
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
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