Limelight Completes Acquisition of Yahoo’s Edgecast; Combined Company Rebrands as Edgio Creating a Global Leader in Edge-Enabled Solutions
It’s official! We’ve closed the Yahoo Edgecast acquisition and have reintroduced ourselves to the world as Edgio – the new global leader in edge-enabled software solutions. This is an exciting time for our company after many months of planning, anticipation and hard work.
Edgio delivers significantly increased scale and scope with diversified revenue across products, clients, geographies and channels – powering the world’s best-performing edge platform with the most complete set of capabilities for web applications, APIs and video content.
The fast-track to improve our profitability and growth continues!
Here are a few key takeaways from this deal:
Edgio combined platform and solutions now deliver about 20% of the world’s internet traffic from instant-loading websites to high-demand content for 20,000 leading digital companies such as Amazon, Sony, Kate Spade, Microsoft, Sun TV, Verizon, Disney, TikTok and Twitter.
Edgio’s global edge platform delivers a capacity of more than 200 Tbps, more than 300 global PoPs and more than 7,000 ISP connections.
In connection with the sale, Yahoo received approximately 80.8 million shares of Limelight common stock, valuing Edgecast at approximately $300 million based on the 30-day trailing VWAP of approximately $4.12.
Edgio is poised for growth in a high-growth $40 billion market, with a stronger balance sheet and improved profitability underwritten by greater than $50 million run-rate cost synergies and meaningful revenue diversification.
To read more about the transaction details and Edgio’s industry impact: