Akamai Technologies Acquires Enterprise Customer Contracts From StackPath

(RTTNews) - Akamai Technologies, Inc. (AKAM), Thursday said it has acquired assets including select enterprise customer contracts from StackPath, following StackPath's decision to cease its content delivery network operations.

"We look forward to welcoming these new enterprise customers and providing them immediate access to the agility and scale of Akamai Connected Cloud to create and deliver flawless digital experiences," said Adam Karon, chief operating officer and general manager of Akamai's Cloud Technology Group. "In migrating to Akamai Connected Cloud, StackPath's enterprise CDN customers will also have the opportunity to tap into the full portfolio of Akamai security and cloud computing solutions to help them power and protect their businesses into the future."

Through the acquisition of approximately 100 enterprise customer contracts, Akamai anticipates this transaction will add approximately $20 million in revenue and be accretive to adjusted earnings per share by $0.03 - 0.05 for the full year in 2024.

Akamai anticipates no material impact on both revenue and adjusted earnings per share for the third quarter or full-year 2023.