M&A Deal Summary

Akamai Technologies Acquires Prolexic Technologies

On February 18, 2014, Akamai Technologies acquired information technology company Prolexic Technologies from Kennet Partners, Medina Ventures and Camden Partners for 370M USD

Acquisition Highlights
  • This is Akamai Technologies’ 3rd transaction in the Information Technology sector.
  • This is Akamai Technologies’ 3rd largest (disclosed) transaction.
  • This is Akamai Technologies’ 11th transaction in the United States.
  • This is Akamai Technologies’ 2nd transaction in Florida.

M&A Deal Summary

Date 2014-02-18
Target Prolexic Technologies
Sector Information Technology
Buyer(s) Akamai Technologies
Sellers(s) Kennet Partners
Medina Ventures
Camden Partners
Deal Type Add-on Acquisition
Deal Value 370M USD
Advisor(s) AGC Partners (Financial)

Target

Prolexic Technologies

Hollywood, Florida, United States
website
Prolexic Technologies IT security provider of Cloud-based cyber defense solutions, such as distributed denial-of-service (DDoS) detection and mitigation, for the Federal Government and Global 2000 customers.

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Buyer(S) 1

Buyer

Akamai Technologies

Cambridge, Massachusetts, United States

website


Category Company
Founded 1998
Sector Information Technology
Employees8,780
Revenue 3.2B USD (2020)
DESCRIPTION
Entrance to Akamai's office in Santa Clara, California.
Entrance to Akamai's office in Santa Clara, California.

Akamai Technologies is a provider of cloud services for delivering, optimizing and securing online content and business applications. Akamai was formed in 1998 and is based in Cambridge, Massachusetts.


DEAL STATS #
Overall 12 of 33
Sector (Information Technology) 3 of 18
Type (Add-on Acquisition) 11 of 30
State (Florida) 2 of 2
Country (United States) 11 of 24
Year (2014) 1 of 1
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-11 Velocius Networks

Mount Laure, New Jersey, United States

Velocius Networks, Inc., a provider of quality of service (QoS) technology for optimizing application traffic across enterprise networks, in a cash transaction. Velocius Networks, a privately-funded company with five employees, was established in 2011.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-02 Xerocole

Boulder, Colorado, United States

Xerocole, Inc. is a provider of recursive DNS functionality. The Domain Name System (DNS), which translates human-readable domain names into IP addresses, is a critical component in delivering a faster Internet experience.

Buy -

Seller(S) 3

SELLER

Kennet Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1997
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kennet Partners is a private investment firm that invests in fast-growing companies providing information technology products and technology-enabled services. Kennet typically commits $10 to $50 million of equity per transaction in companies with revenues up to $50 million. The Firm generally invests in businesses located in Western Europe and the US. In addition to providing growth capital, Kennet also finances private mergers, shareholder liquidity needs, corporate divestitures or spin-outs, and restructuring situations. Kennet Partners was formed in 1997 and is based in London.


DEAL STATS #
Overall 26 of 40
Sector (Information Technology) 4 of 5
Type (Add-on Acquisition) 22 of 32
State (Florida) 1 of 1
Country (United States) 6 of 14
Year (2014) 1 of 2
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-29 IntelePeer

San Mateo, California, United States

IntelePeer, Inc. provides a fully managed, on-demand peering infrastructure to exchange voice traffic over IP or legacy TDM networks. Its customers are communications services providers, universities, enterprises and VoiP application developers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-06 Exony

Newbury, United Kingdom

Exony Ltd. is a provider of analytics and management software in the United Kingdom.

Sell -
SELLER

Medina Ventures

Coral Gables, Florida, United States

Investor Investor Investor Investor Investor

website


Category Venture Capital Firm
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

Medina Capital is a venture capital firm focused on growth investments in companies that offer software-enabled technologies in the cybersecurity, big data analytics, and cloud computing markets. Medina Capital looks to invest $10 to $20 million per transaction and will consider majority or minority positions. Medina Capital was formed in 2012 and is based in Coral Gables, Florida.


DEAL STATS #
Overall 1 of 7
Sector (Information Technology) 1 of 2
Type (Add-on Acquisition) 1 of 6
State (Florida) 1 of 3
Country (United States) 1 of 7
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-12 Brainspace

Addison, Texas, United States

Brainspace is a developer of software for text analytics, e-discovery, digital investigations and defense intelligence. Brainspace is based in Addison, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-07 Cryptzone Group AB

Waltham, Massachusetts, United States

Cryptzone Group AB is a provider of access control and data security solutions for the way business works today, enabling enterprises to securely connect and collaborate in a world of cloud apps, mobile devices, and ubiquitous mobility. Cryptzone Group was founded in 2003 and is based in Waltham, Massachusetts.

Buy -
SELLER

Camden Partners

Owings Mill, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1995
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Camden Partners is a growth-oriented private investment firm focused on direct investments as well as structured capital solutions. Camden's direct private equity practice targets equity investments up to $15 million in businesses operating in the technology, software, business services, and education sectors. Prospective companies generally have proven management, proprietary products or high barriers to entry, recurring revenue, and proven business models. Camden Partners was formed in 1995 and is based in Baltimore, Maryland.


DEAL STATS #
Overall 17 of 26
Sector (Information Technology) 4 of 5
Type (Add-on Acquisition) 8 of 14
State (Florida) 1 of 1
Country (United States) 16 of 25
Year (2014) 2 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-22 Triumph Higher Education

Boulder, Colorado, United States

Triumph Higher Education is a new education company that builds a professionally managed system of quality, affordable schools known for stimulating learning experiences, good outcomes, and good career opportunities for graduates. The primary areas of academic focus at Triumph are culinary education and online education covering a variety of academic disciplines. These areas offer substantial opportunity for growth and address key educational needs of the nation and the world. Triumph Higher Education is based in Boulder, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-23 LifeNexus

San Francisco, California, United States

LifeNexus is a creator of the patented iChip technology, a mobile platform that delivers personalized health information and analytics to consumers and their doctors. LifeNexus is based in San Francisco, California.

Buy -