/// Akamai, Juniper Said to Be Contending for Israeli Start-Up Cotendo
Israeli media having been buzzing in the last day or so about a possible takeover of a startup there called Cotendo. As reports in newspapers there have it, Cotendo is the subject of a bidding battle pitting Juniper Networks and AT&T on one side versus Akamai, over acquisition said to be worth as much as $350 million. As the Israeli publication Globes puts it , this would be one of the most successful exits for an Israeli start-up in the last decade. It wouldn’t be a bad exit for a bunch of U.S.-based venture capital funds, either. Cotendo raised $7 million from Sequoia Capital and Benchmark Capital in 2009, and then another $12 million in a round joined by Tenaya Capital last year. In June it took a $17 million strategic investment from Juniper and Citrix Systems. Cotendo is an Akamai competitor. Its content delivery network uses a network of distributed servers around the world to put content physically close to consumers, and it specializes in speeding up delivery to mobile phones and tablets, which is a lot like the business that Akamai is known for. The thing about Cotendo is that it has a reputation for being both faster at some things than Akamai, and also cheaper. Akamai has been known to buy competitors. In 2005 it took out Speedera Networks for $130 million after a contentious patent lawsuit between them.