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Irish technology company Asavie has been acquired by Nasdaq-listed Akamai Technologies for an undisclosed sum.
Founded in 2004 by Ralph Shaw and Tom Maher, the Dublin-based Internet of Things (IOT) and mobility solutions provider has companies like AT&T, IBM, Microsoft, Verizon, Samsung, Telefónica and Vodafone as partners. It employs more than 130 people.
The Asavie platform manages security, performance and access policies for mobile and Internet-connected devices. Its flagship PassBridge technology enables mobile operators and OEMs to rapidly launch, scale, and secure end-user-centric enterprise mobility and IoT services.
“Asavie’s suite of software-defined solutions is designed to enable enterprises to provide access to business resources while continually protecting the business in a world of evolving cyber threats targeting mobile devices, users, and applications,” says Shaw, principal. company executive, described the company.
Asavie last year paid a dividend of 4.23 million euros to investors after posting income of 23.6 million euros and profit before tax of 1.9 million euros. Sponsors include Hostelworld founders Ray Nolan and Tom Kennedy, along with former Newbay boss Paddy Holohan.
Akamai, which was founded in 1998 and is headquartered in Cambridge, Massachusetts, is one of the world’s largest cloud services and content delivery network companies with revenues of $ 2.9 billion last year.
It operates a network of more than 200,000 servers that help businesses quickly deliver online content to end users. Akamai estimates that it generates between 15% and 30% of all global web traffic.
Following the acquisition, Asavie’s solutions will become part of Akamai’s personalization and security services product line, which is sold to partner operators who bundle the technology into bundles that they sell to their subscribers.
“We believe the addition of Asavie will help Akamai service providers address demand from enterprise and mid-market customers for IoT and mobile device security and management services,” said Tom Leighton, CEO and Co-Founder. from Akamai Technologies.
“What’s remarkable about the Asavie solution is that as more IoT devices get connected via cell phones and 5G, they have proven very easy to scale and protect,” he added.
The cash transaction is not expected to have a material impact on Akamai’s 2020 financial results or its previously established operating margin target.
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