Limelight Networks Inc. (Nasdaq: LLNW) has acquired website and applications acceleration developer AcceloWeb Ltd. for cash and shares. The companies did not disclose the size of the deal, but market sources believe it was $20-30 million.
Limelight said the integration of AcceloWeb's technology with its own web and application acceleration services will help customers dramatically improve time to action on their websites - the amount of time a user has to wait to perform tasks on a website or within a web application.
AcceloWeb is based in Tel Aviv. YL Ventures, headed by Yoav Andrew Leitersdorf, is an investor in the company.
AcceloWeb CEO Ofer Gadish said, "We're pleased to join Limelight and continue our work building Internet scale software that improves end-user experiences on the Internet. We are excited about the opportunity that Limelight's global resources and technology platform offers the AcceloWeb team."
Limelight chairman and CEO Jeff Lunsford said, "The web application acceleration market is large and growing rapidly as enterprise and consumer applications migrate into the cloud - one of the three macro trends core to Limelight's strategy."
Published by Globes [online], Israel business news - www.globes-online.com - on May 11, 2011
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