09:05 AM EST, 11/15/2024 (MT Newswires) -- Akamai Technologies ( AKAM ) said Friday it is the winning bidder to acquire select assets from Edgio's bankruptcy sale.

The assets to be acquired include customer contracts from Edgio's businesses in security and content delivery and non-exclusive license rights to Edgio's entire patent portfolio, Akamai ( AKAM ) said. Assets related to the Edgio network are not included, Akamai ( AKAM ) added.

A court hearing will consider the approval of the acquisition on Nov. 25 and if approved, the transaction is expected to close in Q4, according to Akamai ( AKAM ).

Financial details were not disclosed.