U.S. Markets closed

Akamai buying Prolexic for about $370 million

CAMBRIDGE, Mass. (AP) -- Akamai Technologies Inc. is buying cloud-based security services provider Prolexic Technologies Inc. for about $370 million.

Akamai will also assume outstanding unvested options to buy Prolexic stock.

Cambridge, Mass.-based Akamai helps websites deliver video and other content such as software downloads to users. Prolexic is privately held.

Akamai expects the buyout will hurt its adjusted earnings per share by 6 cents to 8 cents per share in the first full year after the transaction is complete.

The deal is targeted to close in the first half of 2014.