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Akamai Acquired Red Swoosh

Michael on Techcrunch is reporting —Akamai has acquired Red Swoosh for $15 million in a stock for stock transaction. Red Swoosh uses bittorent-like technology to quickly transfer files using peer to peer technology. Some companies are starting to use bittorent directly for file sharing, however, which questions the need for something like Red Swoosh.

This brings to a close the long and dramatic Red Swoosh saga. The company was founded back in 2001, but went through some troubled years during the crash. They recapitalized the company in 2005 and raised an additional $1.7 million from Mark Cuban.

Source:→ TechCrunch

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