1 AT&T joins forces with Akamai, boosts Akamai shares - IBTimes UK

AT&T joins forces with Akamai, boosts Akamai shares

December 6, 2012 3:14 PM GMT

AT&T Inc and Akamai Technologies Inc said they have agreed to work together on content delivery network (CDN) services, which deliver content faster by avoiding Internet congestion, sending Akamai's shares up 8 percent in early trade.

As part of the agreement AT&T will transfer its existing CDN operations, customers and services to Akamai's platform in 2013, the company said on Thursday.

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The pair said they will initially focus on North America and planned to expand globally within 12 months. They will connect Akamai CDN services to AT&T's network and share resources such as technical support and marketing.

Akamai shares were up $2.88 or 8 percent at $38.38 in morning trade on Nasdaq. AT&T shares were slightly lower at $33.87 on the New York Stock Exchange.

(Reporting By Sinead Carew; Editing by Maureen Bavdek and Theodore d'Afflisio)

Copyright 2012 Thomson Reuters. All rights reserved.

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