In a move designed to deepen and enhance its video delivery and web services capabilities, US Verizon has revealed it is to acquire content delivery network specialist EdgeCast.
Verizon Digital Media Services will integrate EdgeCast complementary capabilities to improve further and increase its ability to meet the exponential growth in online digital media content, as well as broaden its portfolio of site acceleration services for digital enterprises.
The Verizon and EdgeCast boards of directors have approved this acquisition and Verizon hopes to finalise it in early 2014.
“The combination of EdgeCast and Verizon Digital Media Services will allow us to fully exploit and accelerate growth in Internet media consumption and online business performance,” said Bob Toohey, president of Verizon Digital Media Services. “EdgeCast’s industry-leading technology and strategically placed assets, combined with Verizon Digital Media Services’ video solutions, improves our ability to deliver the rich, reliable and quality digital media services that our customers have come to expect.”
EdgeCast has more than 6,000 accounts and serves some of the world’s leading Web brands for global media delivery and acceleration services.
Listed for the second consecutive year as one of the Deloitte Technology Fast 500, EdgeCast ranked as the No.1 fastest-growing Internet company in 2012 and, in 2013, No. 87 among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America, based on percentage fiscal-year revenue growth from 2008 to 2012.
“Having journeyed from start up to technology leader in a short seven years, the time is right for EdgeCast to elevate itself again by joining Verizon to continue our innovation and growth,” said Alex Kazerani, EdgeCast chairman and chief executive officer.
This acquisition will further strengthen Verizon Digital Media Services’ ability to deliver content and site acceleration services to customers that include studios, broadcasters, retailers and enterprises seeking quality high-performance digital experiences across all devices.
Focused on performance, both companies deliver advanced video solutions and share a common architectural approach to video-optimised networks that results in quality experiences for enterprise customers who want to diversify their businesses and consumers that want content and media whenever and wherever they are.
Earlier this year, Verizon Digital Media Services announced the acquisition of upLynk assets, with its exclusive technology that streamlines the process of uploading and encoding of video for live, linear and video on-demand content. The combination of complementary capabilities from Verizon, upLynk and EdgeCast further boosts performance of Verizon Digital Media Services’ end-to-end services.