Verizon plans to acquire EdgeCast Networks

Verizon today announced a definitive agreement under which the company will acquire EdgeCast, an industry leader in content delivery networks.

Verizon Digital Media Services will integrate EdgeCast complementary capabilities to further improve and increase its ability to meet the exponential growth in online digital media content, as well as broaden its portfolio of site acceleration services for digital enterprises.

The Verizon and EdgeCast boards of directors have approved this acquisition and Verizon hopes to finalize it in early 2014. Verizon’s financial adviser for this acquisition was LionTree Advisors.

“The combination of EdgeCast and Verizon Digital Media Services will allow us to fully exploit and accelerate growth in Internet media consumption and online business performance,” said Bob Toohey, president, Verizon Digital Media Services.

“EdgeCast’s industry-leading technology and strategically placed assets, combined with Verizon Digital Media Services’ video solutions, improves our ability to deliver the rich, reliable and quality digital media services that our customers have come to expect,” added Toohey.

EdgeCast has more than 6,000 accounts and serves some of the world’s leading Web brands for global media delivery and acceleration services.

“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, chairman and chief executive office, EdgeCast.

This acquisition will further strengthen Verizon Digital Media Services’ ability to deliver content and site acceleration services to customers that include studios, broadcasters, retailers and enterprises seeking quality high-performance digital experiences across all devices.

Focused on performance, both companies deliver advanced video solutions and share a common architectural approach to video-optimized networks that results in quality experiences for enterprise customers who want to diversify their businesses and consumers that want content and media whenever and wherever they are.

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