Verizon has announced plans to acquire content delivery specialist EdgeCast.
According to a press release, Verizon plans to integrate EdgeCast into existing content delivery systems.
The Verizon and EdgeCast boards have both approved the deal, and Verizon hopes to finalize it in early 2014. TechCrunch had reported on Friday that the two companies were nearing an agreement that would value EdgeCast as $350 million. However, Verizon did not reveal any financial details.
EdgeCast has more than 6,000 accounts and serves some of the world’s leading Web brands for global media delivery and acceleration services. Verizon says the acquisition will allow its Digital Media Services division to deliver content and site acceleration services to customers that include studios, broadcasters, retailers and enterprises seeking quality high-performance digital experiences across all devices.
Earlier this year, Verizon Digital Media Services announced acquisition of upLynk assets, with its exclusive technology that streamlines the process of uploading and encoding of video for live, linear and video on-demand content. The carrier notes that the combination of complementary capabilities from Verizon, upLynk and EdgeCast will help boosts performance of Verizon Digital Media Services’ end-to-end services.