Verizon agreed to acquire EdgeCast, a content delivery network company based in Santa Monica, California. Financial terms were not disclosed.
Edgecast operates a series of CDN "SuperPOPS" in over 30 locations around the world. Unlike earlier CDNs, which placed a small number of servers in thousands of locations, Edgecast focused on a smaller number of strategic global locations near primary Internet Exchange Points. These caching servers are located in data centers where major backbone providers operates Internet exchanges.
EdgeCast claims more than 6,000 accounts, including some of the world’s leading Web brands for global media delivery and acceleration services.
Verizon Digital Media Services plans to integrate EdgeCast capabilities in its own network.
“The combination of EdgeCast and Verizon Digital Media Services will allow us to fully exploit and accelerate growth in Internet media consumption and online business performance,” said Bob Toohey, president of Verizon Digital Media Services. “EdgeCast’s industry-leading technology and strategically placed assets, combined with Verizon Digital Media Services’ video solutions, improves our ability to deliver the rich, reliable and quality digital media services that our customers have come to expect.”
Earlier this year, Verizon Digital Media Services announced the acquisition of upLynk assets, with their exclusive technology that streamlines the process of uploading and encoding of video for live, linear and video-on-demand content.
- In July 2013, EdgeCast Networks announced $54 million in new financing for its content delivery network.
At the time, the company said it has added more than 2,000 accounts in the past year and now has more than 6,000 accounts, including such well-know brands as Twitter, Pinterest, Sony, and Hulu. Its network includes more than 30 POPs in the major data centers where primary carriers exchange traffic.
"Millions of people use EdgeCast every day – when they use Twitter, Pinterest, Tumblr, Hulu, or any other of the thousands of sites we accelerate worldwide. We deliver more than 4 trillion digital items a month to almost every Internet user in the world,” said Alex Kazerani, EdgeCast Chairman and CEO. “We are proud that our investment partners recognize our incredible performance and share our enthusiasm about our continued growth."
The Series D funding round was led by Performance Equity Management (PEM), with follow-on participation from the company’s existing investors Menlo Ventures and Steamboat Ventures. The equity portion of the financing was augmented with a debt facility from Silicon Valley Bank.