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Aug. 3, 2014, 5:35 PM
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Jun. 16, 2014, 10:04 AM
- P-E firm Tuition Build has offered to buy Limelight (LLNW) for $644.7M, or $6.55/share - a 131% premium to Friday's close.
- However, Limelight says it has "concluded that Tuition Build does not have the experience, credentials, financial resources, or capability to complete the proposed transaction," and that investors should "disregard" the offer.
- Limelight has been posting Y/Y revenue declines and losses amid softer demand from Netflix, which has been busy building its own CDN. Tuition Build's offer comes as Limelight rival Level 3 announces a $7.3B deal to buy TW Telecom.
Jun. 16, 2014, 9:15 AM
Jun. 2, 2014, 7:05 PM
- The Supreme Court has ruled Limelight (NASDAQ:LLNW) is "not liable for inducing infringement" of an Akamai (NASDAQ:AKAM) CDN patent. (court ruling - .pdf)
- The SC's ruling overturns a guilty verdict against Limelight from a federal appeals court. The case was closely watched by tech companies who feared an Akamai victory would open the door to a large number of frivolous lawsuits from litigants claiming induced infringement.
- Google, Oracle, Cisco, and other tech giants backed Limelight in the dispute, as did the White House.
- LLNW +1.7% AH.
May 21, 2014, 2:41 PM
- Akamai (AKAM +2.9%) and Level 3 (LVLT +0.4%), pressured lately by reports Apple and Comcast are planning to launch CDNs, are higher today, though Level 3 has given back some of its early gains. Limelight (LLNW +1.4%) is also up.
- Dan Rayburn has reported Apple, a major Akamai customer, is busy building out a large CDN infrastructure to deliver its content, and is also negotiating direct peering/interconnection deals with top ISPs. He originally wrote about Apple's CDN ambitions in February.
- Rayburn also reports Comcast has joined the ranks of carriers building its own last-mile CDN. He thinks some content owners who use Comcast's service might "pay 20%-40% less than what they pay now," given Comcast already owns the network on which the CDN is being built.
- Akamai, which still claims the world's biggest CDN and proprietary routing algorithms, has tried to counter the carrier CDN threat by striking partnerships - its client list includes AT&T, Telefonica, and Orange. It has also been trying to lower its dependence on a commodity media delivery business (includes sales to Apple) that's seeing intense price pressure.
May 6, 2014, 4:35 PM
- Limelight Networks (LLNW): Q1 EPS of -$0.04 beats by $0.03.
- Revenue of $41.2M (-10.1% Y/Y) beats by $2.29M.
May 5, 2014, 5:35 PM
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Mar. 19, 2014, 2:41 PM
Feb. 13, 2014, 4:57 PM
- In addition to posting mixed Q4 results, Limelight (LLNW) has authorized a $15M buyback, good for repurchasing 6% of shares at current levels. The CDN owner had $118.5M ($1.22/share) in cash at the end of 2013 to finance its buyback efforts.
- Q4 gross margin rose 50 bps Y/Y to $36.2M. While revenue declined 9% Y/Y, opex fell 4% to $24.5M.
- Q4 results, PR
Feb. 13, 2014, 4:13 PM
- Limelight Networks, Inc. (LLNW): Q4 EPS of -$0.05 beats by $0.01.
- Revenue of $42.2M (-9.2% Y/Y) misses by $0.68M.
Feb. 13, 2014, 12:10 AM
Feb. 12, 2014, 5:35 PM
Jan. 10, 2014, 5:00 PM
- Seven months after asking the Solicitor General for its take on Limelight's (LLNW +1.4%) appeal of an infringement verdict delivered by a federal appeals court in a patent suit filed by bigger rival Akamai (AKAM +1.3%), the Supreme Court has agreed to hear the case. Limelight shares received a slight lift from the decision in afternoon trading.
- The Supreme Court's decision could have far-reaching implications, given it will be rendering judgment on the validity of induced patent infringement. Akamai asserts Limelight is guilty of infringement because it performs certain steps of a patented method, and compels customers to perform the others. Limelight argues it's innocent as long as it isn't performing each step itself.
- Google, Cisco, Oracle, and other tech companies are backing Limelight in the dispute, as is the White House.
- Oral arguments will likely be heard in April, and a decision is expected by June.
Dec. 23, 2013, 4:46 PM
- 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.
Nov. 5, 2013, 4:36 PM
- Limelight Networks (LLNW): Q3 EPS of -$0.07 in-line.
- Revenue of $42.7M misses by $0.23M. (PR)
Nov. 5, 2013, 12:10 AM
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Limelight Networks Inc operates a computing platform. The Company provides services including content delivery services, video content management services, performance services for website and web application acceleration, and cloud storage services.
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