Get the latest news alerts: at Twitter.
AP, LTW
TEMPE, Ariz. – Network services provider (Nasdaq: LLNW) said Monday it has agreed to pay roughly $110 million in cash and stock to buy , a company that provides technology for delivering audio and video advertising over the Internet.
EyeWonder, which is based in Atlanta, launched in 1999.
“Today’s announcement represents the next step in the growth and success of online advertising and in realizing the vision EyeWonder was founded with 10 years ago,” said EyeWonder’s John Vincent, its founder and chief executive officer. “Limelight Networks and EyeWonder have worked together as partners for years, and have shared a passion for helping publishers of all types better monetize their content. By combining and integrating each company’s distinctive areas of expertise, we will create unique and independent service offerings that will deliver exceptional value to our clients and partners.”
Limelight said the deal will help it capitalize on advertisers’ shift from traditional media such as newspapers and television to the Web.
“Limelight and EyeWonder bring together deep technical and operational skills for creating a brilliant online experience anywhere, on any device, and the ability to help advertisers and publishers monetize that experience,” said Jeff Lunsford, chairman and chief executive officer, Limelight Networks, “We believe joining forces with the EyeWonder team will help us build long-term value for our shareholders and further establish Limelight Networks as an important, at-scale participant in the rapidly growing rich media, video, mobile, and web TV advertising sectors.”
It will pay $62 million in cash and 12.7 million of its own shares for the privately held company. Limelight plans to close the deal in the first half of next year.
