Data delivery network provider Akamai Technologies has moved to acquire rival Contendo for $268 million, as reported by Forbes.
The company said the acquisition will allow it to expand in the cloud based and mobile content delivery markets. Akamai plans to target companies moving to the cloud by offering cloud based services and to help them increase their mobile presence.
Contendo, founded in 2008, provides mobile content delivery and cloud traffic optimising solutions. The company's mobile CDN (Content Delivery Network) has been designed to figure out the best possible way to deliver data to a smartphone judging by geo-location and other factors.
Meanwhile, Contendo's Cloudlet platform allows enterprise users to optimise cloud based traffic. Akamai is responsible for delivering significant percent of data around the world.
"As we look to accelerate growth across the dynamic landscapes of cloud and mobile optimisation, we are excited to be joining forces with Cotendo," said Paul Sagan, president and CEO of Akamai.
"Cotendo's technology, partnerships and people are a strong complement to Akamai. Together, we believe there is tremendous opportunity for our combined technologies as enterprises embrace the move to the cloud and seek solutions for an increasingly mobile world," he added.