Limelight to Acquire Yahoo's Edgecast, Creating Global Leader in Edge Enabled Software Solutions

SCOTTSDALE, Ariz. and NEW YORK, March 7, 2022 /PRNewswire/ -- Limelight Networks, Inc. (Nasdaq: LLNW) ("Limelight"), a leading provider of edge enabled web applications and content delivery solutions, today announced that it has entered into a definitive agreement to acquire Yahoo's Edgecast, Inc. ("Edgecast"), a leading provider of edge security, content delivery and video services, in an all-stock transaction. The transaction values Edgecast at approximately $300 million, or about 1x 2021 revenue. Edgecast is a business unit of Yahoo, which is owned by funds managed by affiliates of Apollo (NYSE: APO) (the "Apollo Funds") and Verizon Communications (NYSE: VZ). Yahoo will receive approximately 72.2 million shares of Limelight common stock, subject to customary closing adjustments, and will own approximately 31.9% of the combined company at closing.