Limelight Acquires Yahoo’s Content Delivery Firm From Apollo

Limelight Networks Inc.has struck a deal with Apollo Global Management Inc.to acquire Edgecast Networks Inc., a content delivery service provider owned by the private equity firm’s portfolio company Yahoo.

The all-stock transaction values Edgecast at about $300 million, according to a statement Monday that confirmed an earlier Bloomberg News report. Limelight will operate under the new name Edgio, with Yahoo maintaining a roughly 32% stake in the combined business after a $30 million growth equity investment.

The acquisition is slated to close in the second half of the year. Shares in Limelight jumped as much ...