CAMBRIDGE, MA, August 23, 1999 -- Akamai Technologies, Inc. today announced that it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of shares of its Common Stock. The shares are being offered by the Company. Morgan Stanley Dean Witter is acting as lead manager for this offering with Donaldson, Lufkin & Jenrette, Salomon Smith Barney and Thomas Weisel Partners LLC acting as co-managers. The net proceeds from the sale of shares by the Company will be used for general corporate purposes, including working capital and capital expenditures.
Akamai Technologies is headquartered in Cambridge, Massachusetts. Akamai provides a global Internet content delivery service that improves Web site speed and reliability and protects against Web site crashes due to demand overloads. As of July 31, 1999, there were 900 Akamai servers deployed in 15 countries across 25 telecommunications networks, providing Akamai's customers with guaranteed global Internet content delivery service. Akamai (pronounced AH kuh my) is Hawaiian for intelligent, clever and cool.
Once available, preliminary prospectuses may be obtained from Morgan Stanley Dean Witter, 1585 Broadway, New York, NY 10036.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Akamai Technologies is headquartered in Cambridge, Massachusetts and has offices in San Mateo and Cupertino, California, and Europe. Akamai is the leader in distributed content, streaming media, and applications delivery, serving over 225 of the Web's most popular properties including over 100 leading e-commerce companies. Akamai has deployed the broadest global network for content, streaming media, and applications delivery with more than 2000 servers in over 40 countries directly connected to more than 100 different telecommunications networks. Akamai (pronounced AH kuh my) is Hawaiian for intelligent, clever and cool.