Limelight Networks, Inc. soared today as investors discovered the small content delivery play. Jim Cramer covered the stock on his show Mad Money, piquing renewed interest from tech lovers and those who have only just heard of the company for the first time.
Limelight specializes in providing content over network delivery for a variety of uses including the music, movie, video game, and television industry, all at high speeds. The company recently purchased a company called EyeWonder which specializes high-end interactive advertising. As business shifts to the internet and mobile phones, EyeWonder is what publishers and enterprises are looking for. Limelight also uses adaptive routing technologies for extremely fast and solid performance.
The stock was up over 8% today hitting a new high of $5.79 at its peak. It is currently up almost 12% in after-hours trading after Cramer interviewed the CEO on his show.
Limelight Networks, Inc. (Limelight) is a provider of content delivery network services. The Company is engaged in providing content for the media companies, or content providers, including businesses operating in the television, music, radio, newspaper, magazine, movie, videogame, software and social media industries, online businesses operating e-commerce storefronts, and government organizations, corporations, or enterprise businesses that operate a Website. Using the Limelight’s content delivery network (CDN) content, providers are able to provide end users with media experience for all of their online content, including rich media or large objects, such as video, music, games, software and social media. On May 20, 2009, the Company entered into an asset purchase agreement to acquire substantially all of the assets of Kiptronic Inc. On December 21, 2009, the Company announced the pending acquisition of EyeWonder, Inc. In August 2010, the Company acquired Delve Networks.
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