Akamai said Thursday that it has acquired Cotendo, a cloud acceleration company, for $268 million.
The deal, which is expected to close in the first half of 2012, had been rumored.
With Cotendo, Akamai gets to round out its team and technology. In a statement, Akamai CEO Paul Sagan said the addition of Cotendo will enable it to bring cloud services to mobile devices faster.
Cotendo was founded in 2008 and has 100 employees with half of them in Israel. The company offers a suite of Web and mobile acceleration tools on a distributed network. In other words, Cotendo is very similar to Akamai, but has a focus on mobile.
Here's Cotendo's position in the mobile cloud.
Given that Akamai is a leading content delivery network (CDN) it's clear that Cotendo fits in well.