Akamai Technologies Inc Stock Price, News & Analysis

Akamai Technologies (NASDAQ: AKAM) has completed its acquisition of Noname Security, an API security company, for approximately $450 million.

This acquisition, initially announced on May 7, 2024, aims to enhance Akamai's capabilities in API security, addressing the growing market demand for robust API protection.

Noname Security's strong market position will help Akamai extend its protection across all API traffic locations and expand its sales and marketing resources. Additionally, Akamai will benefit from Noname's established channel and alliance relationships.

Akamai Technologies (NASDAQ: AKAM) has released a new State of the Internet report revealing that bots make up 42% of overall web traffic, with 65% of these being malicious. The report, titled 'Scraping Away Your Bottom Line: How Web Scrapers Impact Ecommerce,' highlights the severe impact of undetected web scraping bots on ecommerce. These bots are used for activities like competitive intelligence, inventory hoarding, and imposter site creation, adversely affecting revenue and customer experience. The report underlines the challenges posed by AI botnets and headless browser technology, which require sophisticated mitigation strategies to manage. Key findings show that bots can degrade website performance, pollute site metrics, and increase compute costs. The report includes mitigation strategies and a case study demonstrating improved website performance post-defense implementations.

Akamai Technologies (NASDAQ: AKAM) has announced that EZDRM has joined its Qualified Compute Partner Program.

EZDRM will offer a native configuration of its digital rights management as a service (DRMaaS) within the Akamai Connected Cloud.

This integration aims to enhance low-latency streaming services by working tightly with edge encoders and packagers.

EZDRM's close collaboration with Bitmovin and Ateme technologies helps to reduce potential attack surfaces while delivering competitive pricing.

The partnership will enable service operators and content owners to distribute premium content securely to a wide range of devices via the Akamai Connected Cloud.

Akamai Technologies, Inc. reported first-quarter 2024 financial results with revenue of $987 million, an 8% increase year-over-year. Security and compute revenue grew by 22%, reaching 64% of total revenue. Non-GAAP net income per diluted share was $1.64, up 17% year-over-year. The company authorized a new $2.0 billion share repurchase program.

Akamai Technologies, a leading cloud company, won multiple awards at the 18th annual Stevie® Awards for Sales & Customer Service. They received Gold for Customer Service Department of the Year, Silver for Best Feedback Strategy, and Bronze for Best Use of Technology in Customer Service. The company's dedication to customer success was highlighted by Rick Myers, Senior Director of Service Solutions.

Akamai Technologies, Inc. has announced its intent to acquire API security company Noname in a deal worth approximately $450 million. This acquisition aims to enhance Akamai's API Security solution, offering customers comprehensive protection across all API traffic locations. The integration of Noname is expected to provide greater scale, deployment choices, and technology integrations to Akamai's platform, meeting the increasing demand for API protection in the market.

Akamai Technologies introduced the Akamai Guardicore Platform, combining Zero Trust Network Access and microsegmentation to enhance enterprise security. The platform helps prevent ransomware, meet compliance requirements, and secure hybrid work environments and cloud infrastructure. With a focus on simplifying security and increasing visibility, Akamai aims to address the evolving threats posed by ransomware groups. The platform offers a unified policy engine, streamlined infrastructure, broad visibility, and modular flexibility, leveraging AI to enhance user experience, vulnerability assessments, compliance, and incident response.