Limelight Networks to pay $110M for EyeWonder

AP News
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Posted: Dec 21, 2009 4:47 PM

Network services provider Limelight Networks Inc. said Monday it has agreed to pay roughly $110 million in cash and stock to buy EyeWonder Inc., a company that provides technology for delivering audio and video advertising over the Internet.

Limelight said the deal will help it capitalize on advertisers' shift from traditional media such as newspapers and television to the Web.

It will pay $62 million in cash and 12.7 million of its own shares for the privately held company, which is based in Atlanta. Limelight plans to close the deal in the first half of next year.

The company's stock closed up 4 cents at $3.83 on Monday.