Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Funding/M&A

Akamai to Buy DDoS Protection firm Prolexic for $370 Million

Akamai Acquire Prolexic Technologies

Akamai Acquire Prolexic Technologies

Akamai Technologies (NASDAQ: AKAM) said early Monday that it would acquire Prolexic Technologies, a Hollywood, Florida-based firm that specializes in DDoS (distributed denial of service ) protection solutions, for $370 million in cash.

The two companies have signed a definitive agreement under which Akamai will acquire all of the outstanding equity of Prolexic in exchange for roughly $370 million in cash, after purchase price adjustments and assumption of outstanding unvested options to purchase Prolexic stock.

The transaction is expected to occur in the first half of 2014, subject to closing conditions, including regulatory approvals.

Akamai, which already provides cloud-based DDoS protection solutions, plans to leverage Prolexic’s technology and expertise in fighting DDoS attacks to provide customers with a line of security solutions designed to defend an enterprise’s Web and IP infrastructure against application-layer, network-layer and data center attacks.

Akamai is best known for its massive global network of over 100,000 servers that makes up what the company calls the “Akamai Intelligent Platform” which delivers content and provides Web security for companies around the world.

Through the acquisition, Akamai will inherit Prolexic’s scrubbing centers located in the Americas, Europe and Asia.

“Any company doing business on the Internet faces an evolving threat landscape of attacks aimed at disrupting operations, defacing the brand, or attempting to steal sensitive data and information,” said Tom Leighton, CEO of Akamai. “By joining forces with Prolexic, we intend to combine Akamai’s leading security and performance platform with Prolexic’s highly-regarded DDoS mitigation solutions for data center and enterprise applications protection.”

“We believe that, together, we will be able to deliver an unprecedented level of network visibility and protection,” said Scott Hammack, CEO at Prolexic.

Advertisement. Scroll to continue reading.

Akamai will host a conference call to discuss the acquisition on December 2, 2013, at 8:45 a.m. Eastern time.

Written By

For more than 15 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Understand how to go beyond effectively communicating new security strategies and recommendations.

Register

Join us for an in depth exploration of the critical nature of software and vendor supply chain security issues with a focus on understanding how attacks against identity infrastructure come with major cascading effects.

Register

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Identity & Access

Zero trust is not a replacement for identity and access management (IAM), but is the extension of IAM principles from people to everyone and...

CISO Strategy

SecurityWeek spoke with more than 300 cybersecurity experts to see what is bubbling beneath the surface, and examine how those evolving threats will present...

CISO Conversations

Joanna Burkey, CISO at HP, and Kevin Cross, CISO at Dell, discuss how the role of a CISO is different for a multinational corporation...

CISO Conversations

In this issue of CISO Conversations we talk to two CISOs about solving the CISO/CIO conflict by combining the roles under one person.

CISO Strategy

Security professionals understand the need for resilience in their company’s security posture, but often fail to build their own psychological resilience to stress.