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Limelight (LLNW +6.3%) "is in talks to try and sell the company to Verizon (NYSE:VZ) and is...

May 28, 2013 12:00 PM ETEdgio, Inc. (EGIO) StockVZ, LVLT, AKAM, EGIOBy: Eric Jhonsa, SA News Editor2 Comments
Limelight (LLNW +6.3%) "is in talks to try and sell the company to Verizon (NYSE:VZ) and is desperate to make a deal," Dan Rayburn reports hearing from "multiple attendees from Wall Street" at a conference he hosted. With Limelight burning cash and facing tough competition from Akamai (NASDAQ:AKAM) and Level 3 (NASDAQ:LVLT), there's logic to exploring a sale. Rayburn points out Limelight's management changes and Verizon's interest in growing its CDN business could lead to a deal. However, he adds Limelight has been seeing employee defections, and has heard Limelight customers criticize the "poor performance" of its CDN. Private XO Communications is also said to be talking with Limelight.

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