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Tags: Akamai | Shares | Deal | AT&T

Akamai Shares Jump on Deal to Sell Services With AT&T

Thursday, 06 December 2012 04:36 PM EST

Shares of Akamai Technologies Inc. rose the most in more than a month after the company forged a deal with AT&T Inc. to provide the carrier’s business customers with so-called content- delivery services.

The service will be jointly sold and managed by both companies and be offered as a feature integrated into AT&T’s network, said Fletcher Cook, a spokesman for AT&T, the largest U.S. phone company. The contract is a multiyear, exclusive agreement, said Cook, who declined to disclose the terms.

Shares of Cambridge, Massachusetts-based Akamai rose 10 percent to $39.06 on Nasdaq Thursday. The stock had climbed 10 percent this year through Wednesday. AT&T, based in Dallas, fell 0.8 percent to $33.65.

© Copyright 2024 Bloomberg News. All rights reserved.


InvestingAnalysis
Shares of Akamai Technologies rose the most in more than a month after the company forged a deal with AT&T to provide the carrier's business customers with so-called content-delivery services.
Akamai,Shares,Deal,AT&T
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2012-36-06
Thursday, 06 December 2012 04:36 PM
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