Akamai strikes cloud CDN interconnect deal with Google; shares rise

• A month after announcing a partnership related to Microsoft's Azure public cloud platform, Akamai (NASDAQ:AKAM) states it's partnering with Google (GOOG, GOOGL) to create direct interconnects foir in-region traffic going between Google's public cloud infrastructure and Akamai's global CDN.
• The tie-up is promised to "reduce hosting and egress costs and improve performance for Akamai customers taking advantage of Google Cloud Platform." Up to a 66% reduction in Google egress costs is promised.
• Google is believed to be a top-4 public cloud infrastructure/app platform (IaaS/PaaS) services provider, along with Amazon (easily the market leader), Microsoft, and IBM. Amazon offers a proprietary CDN service known as CloudFront.
• AKAM +1.3% premarket to $59.99.