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It is a $370 million deal between security companies as Akamai dealt for Prolexic, a provider of cloud-based security solutions for protecting data centers and enterprise IP applications from DDoS attacks.

Under terms of the agreement, Akamai will acquire all of the outstanding equity of Prolexic in exchange for a net cash payment of $370 million, after purchase price adjustments, plus the assumption of outstanding unvested options to purchase Prolexic stock.

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By acquiring Prolexic, Akamai intends to provide customers with a portfolio of security solutions designed to defend an enterprise’s Web and IP infrastructure against application-layer, network-layer and data center attacks delivered via the Internet.

“Any company doing business on the Internet faces an evolving threat landscape of attacks aimed at disrupting operations, defacing the brand, or attempting to steal sensitive data and information,” said Tom Leighton, chief executive at Akamai.

Cyber Security

“By joining forces with Prolexic, we intend to combine Akamai’s leading security and performance platform with Prolexic’s highly-regarded DDoS mitigation solutions for data center and enterprise applications protection. We believe that Prolexic’s solutions and team will help us achieve our goal of making the Internet fast, reliable, and secure,” Leighton said.

“Today, business is defined by the availability, security and latency of Internet-facing applications, data and infrastructure,” said Scott Hammack, chief executive at Prolexic. “Being able to rely on one provider for Internet performance and security greatly simplifies resolution of network availability issues and offers clients clear lines of accountability. We believe that, together, we will be able to deliver an unprecedented level of network visibility and protection.”

The closing of the transaction should occur in the first half of 2014.

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