Akamai Technologies Advances 5G Security Strategy with Acquisition of Asavie
Akamai Technologies has announced the acquisition of Asavie, enhancing its Security and Personalization Services (SPS). Asavie specializes in managing security for mobile and IoT devices, providing solutions crucial for businesses shifting to remote work due to COVID-19. The all-cash deal is not expected to materially impact Akamai's 2020 financial results. This strategic acquisition aims to help Akamai's carrier partners meet the growing demand for mobile device security. The integration is projected to strengthen Akamai's offerings as more devices connect over cellular and 5G networks.
- Acquisition of Asavie strengthens Akamai's SPS product line.
- Enhances mobile and IoT device security offerings.
- Addresses growing demand for secure, remote access solutions.
- Integration challenges may arise with Asavie's technology and personnel.
- Potential inability to meet expected sales goals post-acquisition.
CAMBRIDGE, Mass., Oct. 27, 2020 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the intelligent edge platform for securing and delivering digital experiences, announced today that it has acquired Asavie, whose global platform manages the security, performance and access policies for mobile and internet-connected devices. Asavie's mobile, IoT ("internet of things") and security solutions will become part of Akamai's Security and Personalization Services ("SPS") product line sold to carrier partners that embed the solution within the technology bundle sold to their subscribers.
Asavie delivers secure, frictionless access to business resources for a fully mobile workforce. The company automates the creation of self-serve, private, network-based services that secure access from mobile and internet-connected devices to applications and data without requiring installation and management of client software. This clientless architecture is particularly well-suited for regulated verticals, such as healthcare, financial services, and education. Many of these industries are transitioning to a secure 'office anywhere' environment as a result of the COVID-19 pandemic and benefit from a rapidly installable, scalable and cloud-managed solution.
"We believe the addition of Asavie will help Akamai's carrier partners address enterprise and mid-market customer demand for IoT and mobile device security and management services," said Dr. Tom Leighton, chief executive officer and co-founder, Akamai Technologies. "What's notable about the Asavie solution is that, as more IoT devices connect over cellular and 5G, it has been shown to be very easy to scale and protect them.
"We expect COVID-19 to have a lasting impact on how employees work and how businesses operate. Network security needs will be required to evolve in a 5G era where the office needs to go wherever employees happen to work," said Ralph Shaw, Asavie chief executive officer. "The Asavie suite of software-defined solutions is designed to enable enterprises to provide access to business resources while continuously protecting the business in a world of evolving cyber threats targeting mobile devices, users and applications."
Asavie is a privately-funded company headquartered in Dublin. It automates and manages private networks for businesses at scale, and its solutions are sold by top global mobile network operators. The all-cash transaction is not expected to have a material impact on Akamai's 2020 financial results nor impact its previously-stated operating margin goal for 2020.
About Akamai
Akamai secures and delivers digital experiences for the world's largest companies. Akamai's intelligent edge platform surrounds everything, from the enterprise to the cloud, so customers and their businesses can be fast, smart, and secure. Top brands globally rely on Akamai to help them realize competitive advantage through agile solutions that extend the power of their multi-cloud architectures. Akamai keeps decisions, apps and experiences closer to users than anyone - and attacks and threats far away. Akamai's portfolio of edge security, web and mobile performance, enterprise access and video delivery solutions is supported by unmatched customer service, analytics and 24/7/365 monitoring. To learn why the world's top brands trust Akamai, visit www.akamai.com, blogs.akamai.com, or @Akamai on Twitter.
Media Relations
Gina Sorice
(646) 320-4107
gsorice@akamai.com
Investor Relations
Tom Barth
(617) 274-7130
tbarth@akamai.com
Akamai Statement Under the Private Securities Litigation Reform Act
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995, including statements about expected benefits to Akamai from the acquisition. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, financial results that impact Akamai's stated 2020 margin goals, inability to successfully integrate the technology and personnel of Asavie, failure to achieve expected expected sales goals, failure to provide expected benefits of combined technologies, and other factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
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SOURCE Akamai Technologies, Inc.
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