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Google's Plan to Acquire Akamai Technologies Just a Rumor

There is not a grain of truth in the news that Google is planning to acquire Akamai Technologies, it has been revealed.

According to an article on Bloomberg, people familiar with the matter have said that Google is not going to acquire the online content delivery company.

The news about the supposed acquisition was spread after Business Insider claimed that Google was willing to acquire the company. However, Business Insider did mention that it was only a rumor.

Bloomberg sources dismissed the news article, calling it baseless. Akamai provides content delivery services for companies like Apple and Netflix.

According to Bloomberg data, Akamai has the maximum number of acquisition rumors to its credit compared to any other American firm. Akamai has been rumored to have been acquired 21 times by newspapers and electronic media. The company’s share price had surged significantly since the Business Insider report started circulating.

Akamai, which has shed more than 50 percent of its share price in this year alone, is most likely to be an acquisition target for International Business Machines or Verizon Communications.