- Limelight Networks Inc LLNW agreed to acquire Moov Corporation, which does business as Layer0 for $32.5 million in cash and $22.5 million worth of shares.
- Layer0 provides development, deployment, and monitoring tools that deliver sub-second web apps and APIs through an all-in-one Jamstack platform.
- Limelight CEO Bob Lyons stated that the technology and development capabilities would accelerate Limelight's transition into a leading-edge SaaS provider.
- It will help drive better performance for clients' web applications while improving developer productivity with a seamless end-to-end solution.
- Limelight held $116.9 million in cash and equivalents as of Mar. 31.
- Price action: LLNW shares closed higher by 6.05% at $2.63 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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