News Burst: Akamai rakes in $12m from Apple, Cisco

Akamai Technologies, an Internet content delivery company, said today that it has received investments from both Apple Computer and Cisco Systems. Apple said in July it would work with Akamai to integrate its QuickTime player into Akamai's service. The companies said today that Apple made a $12.5m (£7.75m) payment in June for what was then 5 percent of the company. Cisco said today that it was paying $49m for a roughly four percent stake. Akamai and Cisco will work together to develop new content routing, switching and caching technologies.