Yesterday, Verizon Communications Inc. announced an agreement to acquire the Los Angeles-based Content Delivery Network (CDN) company, EdgeCast Networks for over $350 million.
EdgeCast Networks, a provider of networking solutions along with web services and content delivery has been one of the fastest growing technology companies since its inception in 2006. The company specializes in on-demand delivery of data and rich media content and has about 6,000 clients that include Fortune 500 companies. The company is also strategically partnered with Google Inc. (GOOG), Microsoft Inc. (MSFT) and Yahoo Inc. (YHOO).
EdgeCast, which has been profitable over the last four years is largely considered an upstart and was initially funded by the venture arm of Disney. The company, with a current run rate of $100 million has raised $74 million in funding since 2006.
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