By Colin Kellaher Shares of Limelight Networks Inc. rose more than 10% on Monday after the provider of content delivery network services said it struck a deal to combine with Yahoo’s Edgecast Inc. edge-security, content-delivery and video-services unit. The deal, which values Edgecast at about $300 million, would give Yahoo a nearly 32% stake in the combined company, which would operate as Edgio. The purchase price includes a $30 million investment in the combined… Source link

Cloud-computing services are so ubiquitous that it’s hard to fathom modern life without them. Take a photo on your phone and it is zapped to a cloud service for storage. Order shoes online, book a hotel room or stream a TV show, and the transaction likely takes place in the cloud. Moreover, thousands of companies and government agencies use cloud computing to run their core internal software and databases. Source link

WASHINGTON, March 7 (Reuters) – The U.S. Supreme Court on Monday declined to hear Alphabet Inc’s (GOOGL.O) attempt to nix a lawsuit by shareholders accusing the Google parent company of fraudulently concealing a security glitch that left private user data exposed. The justices left in place a lower court’s ruling that revived the lawsuit brought over the 2018 incident that the company was slow to disclose, turning away Alphabet’s appeal. The lawsuit, led by the state of Rhode Island, was filed… Source link

Stocks dipped Monday and oil prices soared as investors nervously considered the potential for even higher inflation and greater global economic damage from Russia’s war in Ukraine and sanctions that have ensued. The S&P 500, Dow and Nasdaq declined but came off session lows from pre-market trading. Traders piled into safe haven assets, and gold prices (GC=F) briefly jumped above $2,000 per ounce for the first time since September 2020. U.S. Treasury yields advanced. In energy markets, Brent… Source link

People fleeing the Russian invasion of Ukraine wait to board a bus during snowfall after crossing the border from Ukraine to Poland at the border checkpoint in Medyka, Poland, March 7, 2022. Fabrizio Bensch | Reuters Google will use office space and offer other resources in Poland to Ukrainian refugees, the company announced Monday. The company will use its Startups Campus in Warsaw as a space for local non-governmental organizations to provide legal and psychological services to refugees,… Source link

Shares of Limelight Networks Inc. LLNW, +13.03% rallied 6.7% in premarket trading Monday, after the content delivery services provider announced a deal to buy Yahoo’s Edgecast Inc., a provider of security, content delivery and video services, in a stock deal that values Edgecast at about $300 million. Yahoo, which owns Edgecast, is owned by Verizon Communications Inc. VZ, -0.90% and funds managed by affiliates of Apollo Global… Source link

By Colin Kellaher Limelight Networks Inc. on Monday said it agreed to buy Yahoo’s Edgecast Inc. unit in an all-stock deal that values the provider of edge security, content delivery and video services at about $300 million. Limelight said it will issue about 72.2 million shares to Yahoo, majority owned by private-equity firm Apollo Global Management Inc., resulting in Yahoo owning about 31.9% of the combined company at closing. Apollo bought Yahoo last year for $5… Source link

Combined Company to Operate as Edgio, Delivering Significantly Increased Scale and Scope with Diversified Revenue Across Products, Clients, Geographies and Channels and an Expanded Total Addressable Market of $40 Billion Yahoo to Receive All Stock and Will Invest $30 Million Demonstrating Conviction in Combined Company’s Growth Plans; Will Own 31.9% of Pro Forma Company and Appoint Three Directors The Strategic Spinoff Delivers Enormous Value and Opportunity for Yahoo as Edgio Scales… Source link

Beyond disappointing. That’s the overarching theme behind a scathing new note from GameStop Chairman Ryan Cohen to the board of Bed Bath & Beyond (BBBY). The Chewy billionaire turned wanna-be-savior of once proud retail organizations has disclosed a 9.8% stake in Bed Bath & Beyond. Cohen says Bed Bath & Beyond’s execution under CEO Mark Tritton has bordered on terrible, compensation is not realistic and the business should be split up (Buy Buy Baby business sold off) and then sold in entirety… Source link

Russian technology conglomerate Yandex has halted its hardware testing in the US, namely its autonomous vehicles that were to be the backbone of its robotaxi fleet as well as a sidewalk robot delivery service. This news comes as the Russian invasion of Ukraine spills into its second week, with Russia facing sanctions from numerous countries as well as service suspensions from multinational tech companies. Though Yandex is registered in… Source link