DLA Piper represents EdgeCast Networks in acquisition by Verizon

DLA Piper has represented EdgeCast Networks in its acquisition by Verizon Digital Media Services. The transaction is expected to close in the first quarter of 2014, subject to customary closing conditions.

EdgeCast is a Los Angeles-based content delivery network with more than 6,000 accounts. It serves numerous web brands for global media delivery and acceleration services.

Earlier this year, DLA Piper also advised EdgeCast in securing $54m (£33m) in new financing from lead investor Performance Equity Management and participation from Menlo Ventures and Steamboat Ventures, as well as Silicon Valley Bank.

The DLA Piper team representing EdgeCast was led by corporate partner Randy Socol and included David Clark, Jonathan Spencer, Richard Bull, Neil Balmert and Merrili Escue in San Diego; Patrick Connolly in Los Angeles; James Telfer and Mark Boxer in San Francisco; Paolo Morante in New York; Shane Nix in Palo Alto; and Thomas deButts and Jennifer Kashatus in Washington DC.