On May 7, 2024, Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, announced that it has entered into a definitive agreement to acquire application programming interface (API) security company, Noname Security. Noname, one of the top API security vendors in the market, will enhance Akamai’s existing API security solution and accelerate its ability to meet growing customer demand and market requirements as the use of APIs continues to expand. 

Under the terms of the agreement, Akamai has agreed to acquire all of the outstanding equity of Noname for approximately $450 million, after customary purchase price adjustments. The closing of the transaction, which is subject to customary closing conditions, is expected to occur in the second quarter of 2024.

The WilmerHale team advising Akamai consists of Hal Leibowitz, Mark Nylen, Rylee Wells, Justin Flaumenhaft, Louise Luongo, Amy Null, Atul Jain, Stephen Gillespie, Kirk Nahra, Ali Jessani, Meghan Walsh, Bill Caporizzo, Simona Altshuler and Julie Murphy.