Akamai Completes Acquisition of Network24

Akamai (http://www.akamai.com) said today that it has completed its acquisition of Network24 Communications, a privately-held provider of Internet broadcasting services.

Akamai acquired the outstanding shares of Network24 in exchange for an aggregate of $12,496,197 and approximately 620,871 shares of Akamai common stock.

"The acquisition of Network24 further solidifies our position in the streaming arena and expands our streaming solution," said George Conrades, chairman and CEO of Akamai. "The combination of Akamai's global, high-performance network for the delivery of all forms of content and applications and Network24's powerful, automated e-broadcasting application will enable corporate and consumer sites alike to provide new and compelling interactive Web content."

"By joining forces with Akamai, our vision for enabling the Internet to become the next broadcast medium has been greatly accelerated," said Dan Fraisl, president and CEO of Network24.

Just this week, Akamai announced it was acquiring network delivery company, INTERVU (http://www.intervu.net).