Network solutions provider Akamai Technologies (AKAM) said it has agreed to acquire smaller rival Cotendo for $268 million.
Akamai said the combination of its technologies and expertise with Contendo's integrated suite of Web and mobile acceleration services is expected to increase the pace of innovation in the areas of cloud and mobile optimization.
Akamai competes with companies like Level 3 Communications (LVLT) and Limelight Networks (LLNW), providing a secure platform over which businesses can engage users across Web, mobile, cloud, or a mix of private and public network environments.
The Contendo transaction is expected to close in the first half of 2012.