Global law firm Hogan Lovells advised Akamai Technologies, Inc. (NASDAQ: AKAM), a cybersecurity and cloud computing company, in a successful bid to acquire select assets from Edgio, including certain customer contracts from Edgio’s businesses in content delivery and security, and non-exclusive license rights to patents in Edgio’s portfolio.
The U.S. Bankruptcy Court for the District of Delaware has approved Akamai’s winning bid for the select assets during Edgio’s 363 bankruptcy auction on 13 November, 2024, as part of its filing for Chapter 11 bankruptcy relief. The court decision provided the necessary approval for today’s closing of the sale to proceed. The transaction does not include the acquisition of Edgio personnel, technology, or assets related to the Edgio network.
As a result of this transaction, several hundred net new Akamai customers have a clear path and the necessary support to smoothly migrate to a best-in-class and reliable provider of the services they need prior to Edgio ceasing operations of its content delivery network. These customers will also have immediate access to the full portfolio of Akamai’s cybersecurity and cloud computing services.
The Hogan Lovells deal team was led by partners Alex Aber (Boston), Todd Schwartz (Silicon Valley), Chris Natkanski (Boston), senior associates Kyle Childers (Boston), Regina Mendoza (Silicon Valley), Edward McNeilly (Los Angeles), associate Jake Jensen (Silicon Valley), and law clerk Alec Kohli (Denver).
