Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, December 2, 2013

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

Akamai Technologies Inc, whose products help move content quickly over the Internet, said it will purchase cloud-based security provider Prolexic Technologies Inc for about $370 million. The acquisition of Prolexic, which safeguards data centers and enterprise IP applications against hacker attacks, is expected to add 6-8 cents per share to the company's adjusted profit in the first full year after the deal's closing.

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.