Verizon confirms EdgeCast deal, says Vodafone deal to boost EPS


Verizon (VZ) confirms it's acquiring CDN owner EdgeCast Networks. No price tag is given, but TechCrunch reported over the weekend Verizon is paying $350M+. The companies hope to close the deal in early 2014. (PR)

Akamai (AKAM) investors aren't responding well to the news; shares -2.5% premarket. The deal could both strengthen an Akamai rival, and end Verizon's partnership with the CDN market leader.

Verizon notes EdgeCast has 6K+ customers, and says the business complements that of TV Everywhere uploading/encoding service provider upLynk (acquired earlier this year).

Separately, at a UBS conference talk (webcast), Verizon predicts its $130B purchase of Vodafone's Verizon Wireless stake (financed using both debt and equity) will boost EPS by 10%.

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