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Cotendo Finds $268 Million In Its Christmas Stocking, Courtesy of Akamai

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Akamai (NSDQ: AKAM) has snapped up a content-delivery network focused on improving video distribution to mobile devices. Cotendo received an early Christmas present from Akamai in the form of $268 million in cash, according to a press release.

Cotendo should make it easier for Akamai to operate its own services, as the companies had become something of competitors over recent years, according to AllThingsD. Both operate networks based around similar ideas: that you can access content much faster when it sits on a server that is closer to your actual location than one that might be halfway across the world.

But Cotendo is focused on mobile, which is of course driving much of the growth in Internet services these days. The company has 100 employees, half of whom are located in Israel, and had developed a reputation for moving faster than older companies like Akamai to embrace new trends. That speed led to some patent disputes between Akamai and Cotendo.