Akamai acquires cloud-hosting firm Linode for USD900 million

Akamai, an American content delivery network, cybersecurity, and cloud service company, has announced that it has recently acquired privately-owned cloud hosting company, Linode.
The acquisition priced at USD900 million is expected to help Akamai add around USD100 million in profits for its economic year 2022.
Linode, launched in 2003, has quickly made its name for an affordable place to rent virtual private servers.
That was as soon as AWS curved cloud computing into a buzzword and, at the time when VPSes were the only way to host website or basic web apps.
Since then, the firm has continued to enlarge its offerings as both the hyper clouds and the competitors like DigitalOcean started to emerge. Linode then bootstrapped, and unlike some of its competitors, it never took any outside funding.
At present, Linode provides all the fundamental cloud services that developers expect as most of the early providers of VPS do. That includes compute, block and object storage, load balancers, managed database, and lately a managed Kubernetes service for functioning containerized applications.
According to Akamai, it is acquiring Linode to help it turn out to be one of the major distributed compute platforms, from cloud to edge.
Its CEO and co-founder, Dr. Tom Leighton said that the opportunity for combining their market-leading edge platform and security services with Linodes developer-friendly cloud computing capabilities is transforming for Akamai.
Dr. Leighton continued that Akamai has been a leader in the edge computing business for around 20 years and is now excited to start a novel episode in the journey of their evolution by building a unique cloud platform to build, secure and run applications from the cloud to edge.
The acquisition is a big win for developers who will now build the next generation of applications on a platform that delivers extraordinary performance, reliability, scale, reach, and security.
Source Credit - https://techcrunch.com/2022/02/15/akamai-acquires-linode-for-900m/