Akamai acquires video streaming service provider Octoshape
Akamai Technologies just made its second acquisition in a little over a month.
The Cambridge, Massachusetts-based cloud services provider has scooped up Octoshape, a supplier of video streaming optimization technology for over-the-top content.
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The deal follows up a transaction in March when Akamai bought the DNS technology developer Xerocole. At the time, Akamai said the deal allowed the company to provide better security, speed and reliability in DNS connections.
As for the Octoshape buy, it's certainly timely. Octoshape is known for creating efficient transport methods for the delivery of video streams across the internet, using standard media formats and players.
Akamai now holds the keys to Octoshape's patents and products, which bolsters its own portfolio in the field of video streaming optimization at a time when streaming services such as Meerkat and Twitter's Periscope are rooting their way deep into the new media landscape.
"We believe this acquisition will bolster our strategy to further the deployment of Akamai software into devices, carrier networks, enterprises, and homes, and to fulfill the promise of an Internet that is fast, reliable and secure on any device, anywhere," said Akamai CEO Tom Leighton, in a statement.
No financial terms of the deal were disclosed. Neither were any details on whether any of Octoshape's 40 employees would carry on with the brand once the acquisition is complete. However, Octoshape CEO Michael Koehn said his team is "proud of the technology it has built over the years, and looks forward to evolving that technology to the next level with Akamai."
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