MK Capital has completed its previously announced acquisition of content delivery network Kontiki from Verisign for an undisclosed price. The companies plan to announce the deal this morning.
As announced, Verisign is likely divesting Kontiki for a price lower than the $62 million it paid for it two years ago. MK Capital is one of the venture capital companies that provided initial funding to Kontiki before the Verisign acquisition. Verisign started looking for a buyer for Kontiki back in December as part of a corporate restructuring. The company went through changes during 2007 after long-time CEO Stratton Sclavos resigned and was replaced by William Roper. Now Verisign is focusing on its core Internet businesses.
Kontiki was founded by Netscapee Mike Homer in 2000 and its content delivery network is now used by a number of Fortune 500 companies to handle their web video traffic. Kontiki veterans will continue to run the company. Eric Armstrong has been named President of Kontiki, and Todd Johnson, formerly CEO of Kontiki, is now chairman.
Kontiki’s original funders were MK Capital, Granite Ventures, Barksdale Group, and Benchmark Capital.
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