Verizon (NYSE: VZ) is buying a CDN. The carrier said its Verizon Digital Media Services group agreed to buy EdgeCast Networks, a content delivery network based in Santa Monica, Calif.
Plans call for EdgeCast to remain largely intact and independent, according to the Streaming Media blog. EdgeCast has more than 6,000 customers, a list that includes some of the top media brands. Various reports put the value of the deal between $350 million and $400 million.
EdgeCast's business has been growing fast. Deloitte Technology Fast 100 ranked it as the fastest growing Internet company in 2012. In 2013 it was ranked 87 among the the fastest growing companies working in technology, media, telecom, life sciences and clean tech in North America.
A CDN is an intriguing asset for Verizon, which has a national footprint with its wireless network and regional contracts with TV networks through its FiOS TV network. At an investor conference Monday, CEO Lowell McAdam said the company has held talks with content owners about streaming more TV programming on its wireless network, FierceCable reported.
Furthermore, Verizon has been reportedly kicking the tires on Intel Media's over-the-top TV technology. Whether and when any new products materialize remains to be seen.
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