MK Capital finalizes acquisition of Kontiki from Verisign
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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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.