Verizon Acquires EdgeCast, a Content Delivery Network

VerizonVerizon is indeed going to acquire EdgeCast Networks, a content delivery network founded in 2008 that has grown to be one of the fastest-growing Internet companies in the world. TechCrunch’s Ryan Lawler reported the deal was in the works on Sunday, and a new press release from Verizon confirms it, with a projected finalization date sometime in early 2014. In its official release, Verizon makes no mention of the price attached to the deal, but TechCrunch has heard from a source with knowledge of the deal that it will be worth in excess of $350 million — a good return for EdgeCast investors, which has around $74 million raised in funding. EdgeCast brings with it a profitable business and a client base of over 6,000 customers, including Twitter, Pinterest and Hulu to name just a few.

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