Verizon Plans to Acquire EdgeCast Networks
Published on: 9th Dec 2013
By: Ian Mansfield
USA based Verizon has announced it is buying the content delivery network EdgeCast for a confidential amount. EdgeCast has more than 6 000 accounts and serves some of the world's leading Web brands for global media delivery and acceleration services.
The Verizon and EdgeCast boards of directors have approved this acquisition and Verizon hopes to finalize it in early 2014.
"Having journeyed from startup to technology leader in a short seven years, the time is right for EdgeCast to elevate itself again by joining Verizon to continue our innovation and growth," said Alex Kazerani, EdgeCast chairman and chief executive officer.
Earlier this year, Verizon Digital Media Services announced the acquisition of upLynk assets, with their technology that streamlines the process of uploading and encoding of video for live, linear and video-on-demand content.