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Limelight Networks, Akamai Technologies convert settlement into licensing agreement

Aug. 01, 2016 10:14 AM ETEdgio, Inc. (EGIO) StockBy: Eric McCaffrey, SA News Editor4 Comments
  • Last month, the U.S. District Court in Massachusetts issued a final judgment against Limelight Networks (NASDAQ:LLNW +1.8%) requiring the company to pay $51M to Akamai Technologies (AKAM -0.1%) regarding a longstanding dispute over the '703 patent.
  • Today, Limelight Networks announces this judgment has transfigured into a $54M license to be paid over 12 equal quarterly installments.
  • Both companies have relinquished any rights to appeal and Limelight Networks will soon have access to the restricted $51M with the flexibility to now pay Akamai Technologies over an extended three-year period of time.
  • As a result of the agreement, Limelight Networks can operate free from risk of infringing the '703 patent going forward.

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