Akamai Technologies, Inc. (NASDAQ: AKAM) today announced the company has completed its acquisition of SOASTA, a leader in Digital Performance Management. On March 29, 2017, Akamai announced a definitive agreement between the parties pursuant to which Akamai would acquire SOASTA in an all-cash transaction.
The combination of the two companies' technologies and teams creates a comprehensive set of cloud based performance and business outcome optimization solutions. These capabilities are intended to give customers the power to measure, optimize and validate the business impact of their web performance strategies.
“The ability to deliver exceptional digital experiences is of paramount importance to our customers,” explained Ash Kulkarni, senior vice president and general manager, Web Experience Division, Akamai. “Adding SOASTA’s technology to our Web Performance Solutions portfolio offers our customers new and powerful ways to better understand the correlation between website performance and business outcomes.”
The SOASTA acquisition is expected to be slightly dilutive to Akamai’s Non-GAAP net income per share in the first full year post closure in the range of $0.06 to $0.07 and become accretive in 2018.
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, including statements regarding the expected benefits of the acquisition of SOASTA. 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, unexpected changes in the degree to which the acquisition is dilutive or accretive, if at all, in future periods, difficulty in integrating SOASTA’s technology with Akamai's, lack of market acceptance of the post-acquisition solutions, 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.
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