M&A Deal Summary

Akamai Technologies Acquires Ondat

On March 2, 2023, Akamai Technologies acquired internet software and services company Ondat from Downing

Acquisition Highlights
  • This is Akamai Technologies’ 10th transaction in the Internet Software and Services sector.
  • This is Akamai Technologies’ 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2023-03-02
Target Ondat
Sector Internet Software and Services
Buyer(s) Akamai Technologies
Sellers(s) Downing
Deal Type Add-on Acquisition

Target

Ondat

London, United Kingdom
Ondat is a cloud-native, software-defined storage solution to deliver persistent storage for Kubernetes. Ondat is built from the ground-up with no legacy restrictions to give developers working with cloud-native workloads total control of storage with no compromise on performance, availability, or security. Ondat was founded in 2015 and is headquartered in London, United Kingdom.

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Buyer(S) 1

Buyer

Akamai Technologies

Cambridge, Massachusetts, United States

Category Company
Founded 1998
Sector Information Technology
Employees10,700
Revenue 4.0B USD (2024)
DESCRIPTION
Akamai's corporate headquarters in Cambridge, Massachusetts.
Akamai's corporate headquarters in Cambridge, Massachusetts.

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 30 of 35
Sector: Internet Software and Services M&A 10 of 10
Type: Add-on Acquisition M&A Deals 29 of 32
Country: United Kingdom M&A 2 of 2
Year: 2023 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 Linode

Philadelphia, Pennsylvania, United States

Linode is an infrastructure-as-a-service platform is deployed across 11 global markets from data centers around the world and is supported by Next Generation Network, advanced APIs, comprehensive services, and a vast library of educational resources. Linode products, services, and people enable developers and businesses to build, deploy, and scale applications more easily and cost-effectively in the cloud. Linode is based in Philadelphia, Pennsylvania.

Buy $900M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-19 Neosec

Milpitas, California, United States

Neosec is an API detection and response platform based on data and behavioral analytics. Neosec was founded in 2021 and is based in Milpitas, California.

Buy -

Seller(S) 1

SELLER

Downing

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1986
PE ASSETS 1.9B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Downing is an alternative asset manager focused on a variety of investment strategies. These include renewable energy, infrastructure, property finance and development, and healthcare. Downing was founded in 1986 and is headquartered in London, United Kingdom.


DEAL STATS #
Overall 3 of 4
Sector: Internet Software and Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 3
Country: United Kingdom M&A 3 of 4
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-06 Broadway

Liverpool, United Kingdom

Broadway serves the connectivity needs of rural communities across the UK by deploying the pioneering TV WhiteSpace technology. The company has developed network coverage across large swathes of monmouthshire in Wales, and in ayrshire, perth & kinross, inverness-shire, and stirlingshire in Scotland. With an initial fixed wireless focus, broadway has incorporated full fibre into its technology toolkit, allowing it to offer the most appropriate technology wherever it goes. Broadway was founded in 2016 and is based in Liverpool, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-02 Congenica

Cambridge, United Kingdom

Congenica is a digital health company offering a clinical decision support platform for accelerated genomic data interpretation. Congenica software enables genomic medicine by integrating genetic data into healthcare, empowering clinicians to provide life-changing answers that transform the lives of individuals, patients, and their families. Congenica was founded in 2012 and is based in Cambridge, England.

Sell -