Shares of Fastly (NYSE:FSLY) have jumped today, up by 10% as of 12:20 p.m. EDT, after the company announced a new performance milestone and an acquisition. The content delivery network (CDN) specialist also said it had expanded its capacity by 35% since December.
Fastly's edge cloud platform has reached 100 terabits per second (Tbps) of connected edge capacity, a major performance milestone. The tech company is also acqui-hiring talent and intellectual property (IP) assets from Tesuto, a virtual network emulation platform.
"Reaching 100 terabits per second marks a significant milestone for Fastly as we continue to grow our global network," Fastly founder and Chief Architect Artur Bergman said in a statement. "Our acquisition of this great team and important technology from Tesuto builds on this momentum and is a vital step forward to continuously improve our network's reliability and capacity."
Tesuto's three co-founders -- Chris Bradley, Hossein Lotfi, and Jay Sakata -- will be joining Fastly. The trio have decades of combined experience in the CDN sector, including at EdgeCast Networks, which was acquired by Verizon in 2013.
Tesuto's technology emulates networks at scale and can create sandbox environments that simulate Fastly's entire network. With the acquisition, Fastly says it will be able to improve network design and facilitate faster deployments while increasing efficiency.
Sakata commented, "By adding Tesuto's network emulation technology to Fastly's modern network, deployments can be more frequent, efficient, and effective, allowing the network to adapt and scale faster than ever before."