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Akamai Announces Early Termination of Hart-Scott-Rodino Act Waiting Period
Akamai Technologies, Inc. (NASDAQ: AKAM) today announced that on May 23, 2005 the Department of Justice granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, applicable to Akamai's acquisition of Speedera Networks, Inc.
As previously announced on March 16, 2005, Akamai and Speedera have signed a definitive agreement for Akamai to acquire Speedera in a stock-for-stock merger transaction. The closing of the transaction required termination of the Hart-Scott-Rodino Act waiting period and is subject to other customary closing conditions. These other closing conditions include state securities authorization as well as the approval of Speedera's stockholders, and the closing is expected to occur in the second quarter of 2005.
Akamai® is the leading global service provider for accelerating content and business processes online. More than 1,300 organizations have formed trusted relationships with Akamai, improving their revenue and reducing costs by maximizing the performance of their online businesses. Leveraging the Akamai EdgePlatform, these organizations gain business advantage today, and have the foundation for the emerging Web solutions of tomorrow. Akamai is "The Trusted Choice for Online Business." For more information, 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 Technologies, Inc.'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, the timing of the closing of Akamai's acquisition of Speedera, the effects of any attempts to intentionally disrupt our services or network by unauthorized users or others, failure to have available sufficient transmission capacity, a failure of Akamai's network infrastructure and other factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.