Limelight sells content management business

Limelight (LLNW) has sold its website content management business (provides a cloud-based platform for managing Web/video content) to private Upland Software. Terms are undisclosed. (PR)

Limelight has been posting losses and Y/Y revenue declines amid tough competition in its core CDN business from Akamai, Level 3, and others. The company ended $11M in net cash/investments, a figure equal to 58% of its current market cap.

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