|By Liz McMillan||
|February 21, 2014 10:30 AM EST||
Akamai Technologies has completed its acquisition of Prolexic Technologies, Inc., a privately held company based in Hollywood, Florida that provides cloud-based security solutions for protecting data centers and enterprise IP applications from distributed denial of service (DDoS) attacks. On December 2, 2013, Akamai announced a definitive agreement between the parties pursuant to which Akamai would acquire all of the outstanding equity of Prolexic.
The combination of the two companies' technologies and teams creates a portfolio of security solutions designed to protect an enterprise's Web and IP infrastructure against application-layer, network-layer and data center attacks delivered via the Internet.
"Cyber-attacks are on the rise all over the world, with many resulting in significant economic or reputational damage to enterprises, governments, and end-users," said Tom Leighton, CEO of Akamai. "With our acquisition of Prolexic now complete, we are excited to extend the value of our combined teams and offerings to online businesses across all industries. Our focus is to optimize and secure the 'entire IP experience,' Web or otherwise, and to provide an unparalleled layer of protection against the most sophisticated of attacks without sacrificing site or application performance."
Outlook (forward-looking statement)
On its February 5, 2014 earnings call, Akamai provided its outlook for the first quarter 2014, including revenue in the range of $426 to $442 million and non-GAAP earnings per share (EPS) in the range of $0.51 to $0.55, excluding any effect from the Prolexic acquisition. The Company is now updating that guidance to incorporate the effects it anticipates from the Prolexic acquisition as described on that earnings call.
The Company expects that the Prolexic acquisition will result in additional revenue in the first quarter in the range of $7 to $8 million. Akamai further expects the acquisition to be dilutive to non-GAAP earnings per share by approximately $0.01 per share during the quarter. As a result, the Company now expects first quarter 2014 results as follows:
- Revenue in a range of $433 to $450 million; and
- Non-GAAP earnings per share in the range of $0.50 to $0.54.
For more information on the full-year financial impact of the Prolexic acquisition, please refer to the Company's fourth quarter 2013 earnings call with investors held on February 5, 2014. Definitions of the Company's non-GAAP metrics are available on the Company's Investor Relations website.
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