in a large number of transactions
across a wide spectrum of industries
FORT LAUDERDALE, Fla. (June 14, 2010) -- Fort Lauderdale-based investment banking firm Farlie Turner & Co. announced today that it served as exclusive financial advisor to Velocitude, LLC (Velocitude) on its recent sale to Akamai Technolgies, Inc. (Akamai). The sale closed on June 10, 2010. Financial details were not disclosed.
Velocitude is a leading provider of mobile web development, allowing businesses to connect with other businesses and consumers anytime, anywhere. The Velocitude Mobile Platform delivers a richer, friendlier browsing experience to over 5,000 mobile devices, allows a consumer to purchase products, sign up and view accounts, see product information textually or by video, interact with social media sites and/or be alerted via SMS. Velocitude helps clients leverage the power of the Mobile Internet to drive revenue, increase market share, and emerge from their competition. For more information, please see www.velocitude.com.
“Velocitude’s unique Software-as-a-Service mobile platform was a perfect fit for Akamai,” commented Craig Farlie, Managing Director of Farlie Turner. “By adding Velocitude's leading mobile platform to its already extensive product portfolio, Akamai is now able to deliver its clients’ content to today's mobile phones without the requirement of separate Web sites or significant additional infrastructure.”
“Farlie Turner served as a trusted advisor to Velocitude during the company’s recent sale,” stated Adam House Sr., Velocitude’s founder. “Their team was with us every step of the way, right up until closing. They offered valuable, senior level guidance throughout the sale process, and we were very pleased with the advice and service we received.”
About Farlie Turner & Co.
Farlie, Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with the FINRA, provides growth-oriented middle market firms with merger and acquisition, private placement, and financial advisory services. In addition, the firm’s Special Situations Group provides a full range of investment banking services to middle market companies experiencing financial difficulties, ranging from underperforming companies to those in significant distress. Please visit www.farlieturner.com for more information.
About Akamai Technologies
Akamai provides market-leading, cloud-based services for optimizing Web and mobile content and applications, online HD video, and secure e-commerce. Combining highly-distributed, energy-effecient computing with intelligent software, Akamai's global platform is transforming the cloud into a more viable place to inform, entertain, advertise, transact and collaborate. To learn how the world's leading enterprises are optimizing their business in the cloud, please visit www.akamai.com and follow @Akamai on Twitter.