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Monday, December 2, 2013

Akamai to purchase cyber security provider Prolexic for $370 mln, (NASDAQ: AKAM)

Akamai Technologies Inc said it will purchase cloud-based cyber security provider Prolexic Technologies Inc for about $370 million to better defend its internet content delivery services from hacker attacks.Akamai, which claims to control 20 percent of the world's internet traffic, said the purchase would help it boost security of data centers, networks and customers' Web applications.Prolexic, founded in 2003, protects servers from crashing or being overwhelmed by distributed denial of service (DDoS) attacks, where hackers get many computers to access a website simultaneously.The company's investors include Camden Partners, Trident Capital and Intel Capital.

Akamai Technologies, Inc. (Akamai) provides content delivery and cloud infrastructure services for the delivery of content and applications over the Internet. Shares of AKAM traded higher by 0.72% or $0.32/share to $44.72. In the past year, the shares have traded as low as $32.63 and as high as $53.61. On average, 2087500 shares of AKAM exchange hands on a given day and today's volume is recorded at 685207.