Service-network provider Akamai Technologies Inc. (NASDAQ:AKAM) is acquiring a startup competitor, Cotendo.

Bloomberg News reported that the deal is for $268 million in cash.

Cotendo, founded in 2008 and based in Sunnyvale, Calif., is owned by an investor group that comprises Sequoia Capital, Benchmark Capital, Tenaya Capital, Citrix, Juniper Networks and Presidio Ventures.

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