Continuing a move toward enhancing its video, web, and content delivery solutions, Verizon (NYSE: VZ ) today confirmed recent rumors that it intends to acquire content delivery network (CDN) provider EdgeCast, announcing it has signed a definitive agreement to add the growing CDN to its Digital Media Services division. Terms of the deal were not disclosed.
EdgeCast was founded in 2007 and boasts more than 6,000 clients, including the likes of Twitter and Pinterest. According to its website, EdgeCast achieved profitability in 2009.
Explaining the decision to acquire EdgeCast, Verizon Digital Media Services president Bob Toohey commented in a statement, "EdgeCast's industry-leading technology and strategically placed assets, combined with Verizon Digital Media Services' video solutions, improves our ability to deliver the rich, reliable and quality digital media services that our customers have come to expect."
The deal is expected to be finalized early next year.
The EdgeCast transaction follows last month's acquisition of upLynk, a content delivery provider that specializes in TV and video-on-demand solutions.