Earlier this year Limelight announced we will be acquiring Yahoo’s Edgecast and, together, rebranding as Edgio. We’re moving fast to power unmatched digital experiences with our combined, powerful edge-enabled solutions. A lot has happened in the last quarter and in the early weeks of Q2 leading up to this – I picked a handful of things to cover here first, and will continue to share updates as we embark on this journey to become Edgio. If there are topics you want to hear about from me and our First Team or you have questions on anything, please do not hesitate to reach out. My email is email@example.com and my Linkedin profile is www.linkedin.com/in/bob-lyons-2156342. I welcome a dialogue and your questions.
The energy is palpable. Our virtual hallways are buzzing from the strong quarter which exhibited growth in the teens, margin expansion, significant traffic and pipeline growth. In addition, the team has been hard at work planning for the acquisition of Edgecast, and we expect to close in June. I’ve made it a point to speak to teams at both companies and the enthusiasm is indicative of support and excitement for our combination.
Hats off to our team in Ukraine. I am honored to be in the company of some of the most resilient people in the world. Our employees have exhibited true grit – signing up to fight the intrusive forces, moving their families to safety – all while logging in to serve clients and help keep business operations running. We are doing our best to support them in any way we can, with company and employee contributions, assistance moving to neighboring countries, advancing payroll, sending supplies, etc. Our Ukraine First Team is an inspiration to us all.
Picking up speed for the rest of the year. The second half of the year has a great trajectory and is showing promise beyond our expectations. We have been strategically rebuilding our sales team and have also redesigned our demand generation capabilities. Our newly established channel program will pay dividends, and we are actively working to add more partners. All of these are a direct result of the “Improve - Expand - Extend” framework we put in place last year to focus on the basics, restore discipline and prioritize performance. We will continue to implement the same framework when we become Edgio – in fact, becoming Edgio is part of this strategy.
We’re all in. We are very excited to close a transformational acquisition with Edgecast and provide stakeholders a view on the combined company products, solutions, support and infrastructure. A sign of that continued confidence is our Chairman, David Peterschmidtt, and I making additional personal investments in Limelight stock (NASDAQ:EGIO) through open market stock purchases. We also continue to meet investors and analysts to reinforce our story and are planning an Investor Summit in the fall to further detail our strategy.
I’m excited for this next phase of our journey, and look forward to continuing to share my thoughts and updates with you as we head to the edge together with Edgio.
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