Akamai Selects New Corporate Headquarters in Cambridge, Massachusetts
"We're extremely pleased with the outcome of our search for a new headquarters and that we are remaining a part of the Cambridge community," said Paul Sagan, president of Akamai. "Eight Cambridge Center is a first-class building, and the positive economics of this move made it an easy decision. I'm pleased to report that the company will be saving $9 million annually starting next year as a result of the move, which we expect to complete by this fall without interrupting our operations or significantly inconveniencing our employees."
Cambridge Mayor Michael A. Sullivan stated, "I am pleased that my efforts and those of the President of the Cambridge Chamber of Commerce and the city's director of Economic Development were able to assist Akamai with remaining in Cambridge. Akamai's decision to remain in Cambridge further solidifies Cambridge's reputation as the capital for the high tech and biotech industries. Companies like Akamai directly and indirectly provide employment opportunities for Cambridge residents as well as assist in insuring the stability of the Cambridge marketplace."
Eight Cambridge Center is located at the corner of Broadway and Galileo Galilei Way. The building is three years old and was developed and is owned by Boston Properties, Inc. Akamai is sub-leasing the space from Novell, Inc. Akamai's real estate advisor, Anne Columbia of The Columbia Group, assisted Akamai in structuring the lease transaction.
About Akamai
Akamai is a leading provider of secure, outsourced e-business infrastructure services and software. These services and software enable companies to reduce the complexity and cost of deploying and operating a uniform Web infrastructure while ensuring unmatched performance, reliability, scalability and manageability. Akamai's services give businesses a distinct competitive advantage and provide an unparalleled Internet experience for their customers. Akamai's intelligent edge platform for content, streaming media, and application delivery comprises more than 12,600 servers within over 1,000 networks in 66 countries. With headquarters in Cambridge, Massachusetts, Akamai provides services and industry-renowned customer care to hundreds of enterprises worldwide, including dozens of Fortune 500 businesses. For information on Delivering a Better InternetSM, visit www.akamai.com.
Akamai Statement Under the Private Securities Litigation Reform Act
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, general economic conditions, the dependence on Akamai's Internet content delivery service and technology products, increases in costs of construction or moving, due to a labor strike, costs of materials, or other factors, potential difficulties that Akamai may encounter in attempting to expand its business into international markets, a failure of Akamai's network infrastructure, Akamai's ability to protect its intellectual property rights and inventions from third party challenges, and other factors that are discussed in the Akamai's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
| Contacts: |
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| Caryn Brownell Media Relations Akamai Technologies, Inc. (617) 444 - 4661 cbrownell@akamai.com |
--or-- | J.C. Raby Investor Relations Akamai Technologies, Inc. (877) 567 - 7167 jraby@akamai.com |
Company signs long-term sub lease for approximately 90,000 square feet
CAMBRIDGE, MA - June 18, 2002 - Akamai Technologies, Inc. (Nasdaq: AKAM) today announced the company's corporate headquarters will remain in Cambridge, Massachusetts. Akamai has signed a seven-year sub lease for approximately 90,000 square feet at Eight Cambridge Center. Akamai's entire Cambridge-based staff and the company's Network Operations Command Center (NOCC) and Executive Briefing Center will relocate to the first and top four floors of the building this fall. The new headquarters location is just two blocks from the company's current headquarters at 500 Technology Square in the Kendall Square area."We're extremely pleased with the outcome of our search for a new headquarters and that we are remaining a part of the Cambridge community," said Paul Sagan, president of Akamai. "Eight Cambridge Center is a first-class building, and the positive economics of this move made it an easy decision. I'm pleased to report that the company will be saving $9 million annually starting next year as a result of the move, which we expect to complete by this fall without interrupting our operations or significantly inconveniencing our employees."
Cambridge Mayor Michael A. Sullivan stated, "I am pleased that my efforts and those of the President of the Cambridge Chamber of Commerce and the city's director of Economic Development were able to assist Akamai with remaining in Cambridge. Akamai's decision to remain in Cambridge further solidifies Cambridge's reputation as the capital for the high tech and biotech industries. Companies like Akamai directly and indirectly provide employment opportunities for Cambridge residents as well as assist in insuring the stability of the Cambridge marketplace."
Eight Cambridge Center is located at the corner of Broadway and Galileo Galilei Way. The building is three years old and was developed and is owned by Boston Properties, Inc. Akamai is sub-leasing the space from Novell, Inc. Akamai's real estate advisor, Anne Columbia of The Columbia Group, assisted Akamai in structuring the lease transaction.
About Akamai
Akamai is a leading provider of secure, outsourced e-business infrastructure services and software. These services and software enable companies to reduce the complexity and cost of deploying and operating a uniform Web infrastructure while ensuring unmatched performance, reliability, scalability and manageability. Akamai's services give businesses a distinct competitive advantage and provide an unparalleled Internet experience for their customers. Akamai's intelligent edge platform for content, streaming media, and application delivery comprises more than 12,600 servers within over 1,000 networks in 66 countries. With headquarters in Cambridge, Massachusetts, Akamai provides services and industry-renowned customer care to hundreds of enterprises worldwide, including dozens of Fortune 500 businesses. For information on Delivering a Better InternetSM, visit www.akamai.com.
Akamai Statement Under the Private Securities Litigation Reform Act
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, general economic conditions, the dependence on Akamai's Internet content delivery service and technology products, increases in costs of construction or moving, due to a labor strike, costs of materials, or other factors, potential difficulties that Akamai may encounter in attempting to expand its business into international markets, a failure of Akamai's network infrastructure, Akamai's ability to protect its intellectual property rights and inventions from third party challenges, and other factors that are discussed in the Akamai's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
