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Akamai Technologies Inc (AKAM) delivers essential cloud computing and cybersecurity solutions that power global digital infrastructure. This news hub provides investors and technology stakeholders with timely updates on corporate developments, product innovations, and market leadership in content delivery networks.
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Key updates cover critical areas for investors: cybersecurity threat mitigation advancements, content delivery network optimizations, and cloud service adoption across industries. Monitor regulatory developments, executive insights, and technical milestones influencing Akamai's role in securing global internet traffic.
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Akamai Technologies has released a new report detailing the growing vulnerabilities in application programming interfaces (APIs), as they are projected to become the most frequent online attack vector by 2022. The report, 'API: The Attack Surface That Connects Us All,' outlines the security challenges organizations face, highlighting over 11 billion attempted attacks from January 2020 to June 2021. SQL Injection remains the most common attack, followed by Local File Inclusion and Cross-Site Scripting. Akamai emphasizes the need for enhanced API security measures to protect digital experiences.
The Akamai Foundation has announced its 2021 global STEM education grant recipients, aiming to enhance diversity and equity in technology. With a focus on K-12 mathematics education, the initiative addresses digital access disparities exacerbated by the pandemic. New requirements for grant partners include commitments to digital equity. In addition to STEM support, the Foundation also pursues disaster resilience and humanitarian aid, highlighting its global community impact. For 2022, grant submissions will open in Q1, with more details available on their website.
Akamai Technologies has finalized its acquisition of Guardicore for approximately $600 million. This strategic move, announced on September 29, aims to enhance Akamai's Zero Trust solutions, particularly in mitigating ransomware threats. By integrating Guardicore's micro-segmentation technology, Akamai strengthens its portfolio, providing improved security for enterprises against breaches. This acquisition is expected to bolster Akamai’s reputation as a leader in digital experience protection.
Akamai Technologies (NASDAQ: AKAM) will hold a conference call for investors on November 2, 2021, to discuss its third quarter 2021 financial results and provide forward-looking financial guidance. The call will be broadcast live on Akamai's Investor Relations page. Dial-in information includes (844) 578-9671 for U.S. calls and (508) 637-5655 for international calls, using Conference ID 1956828.
Akamai Technologies (NASDAQ: AKAM) announced it received the highest scores in three of four use cases in the 2021 Gartner Critical Capabilities report for Cloud Web Application and API Protection. Akamai's solutions were recognized in API Security and DevOps, High Security, and Web-Scale Business Applications. This recognition highlights Akamai's ability to protect web applications against attacks and enhance enterprise security. The report evaluated offerings from 11 companies, emphasizing the need for automated API discovery and anomaly detection capabilities.
Akamai Technologies, Inc. (NASDAQ: AKAM) has signed a definitive agreement to acquire Tel Aviv-based Guardicore for approximately $600 million. This acquisition aims to enhance Akamai's Zero Trust security portfolio by integrating Guardicore's micro-segmentation solution, which limits unauthorized access to applications, thereby reducing malware risks. Expected revenue contributions from Guardicore are projected at $30-35 million for fiscal year 2022, with anticipated non-GAAP operating margins returning to 30% in 2023. The deal is expected to close in Q4 2021, subject to customary conditions.
Akamai Technologies has launched Learn Akamai, a free on-demand learning platform aimed at enabling customers to maximize the value of Akamai solutions. This platform offers self-directed learning paths, hands-on labs, and a variety of resources tailored for different knowledge levels. It is designed for organizations with limited training budgets and helps get new employees up to speed quickly. Akamai will continuously update the content, keeping it aligned with evolving customer needs.
Akamai Technologies reported strong second-quarter results for 2021, with revenues reaching $853 million, a 7% increase year-over-year. The Security Technology Group saw a 25% growth in revenue, totaling $325 million, while the Edge Technology Group's revenue decreased by 1% to $528 million. GAAP net income was $156 million, reflecting a 3% decline from the previous year. Non-GAAP EPS increased by 3% to $1.42. Cash from operations was $378 million, equating to 44% of revenue, with significant share buybacks totaling $96 million.
Akamai Technologies (NASDAQ: AKAM) will hold an investor conference call on August 3, 2021, at 4:30 p.m. ET to discuss its second quarter 2021 financial results. The call is available via live dial-in for U.S. (844-578-9671) and international participants (508-637-5655) using Conference ID 3968976. A replay will be accessible for two weeks post-call. Future financial results are scheduled for November 2, 2021 and February 15, 2022.
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