As part of the deal, Fastly will integrate Glitch with its network, giving Glitch users access to Fastly’s web application firewall, image optimization, and fast startup times.
Glitch will continue to operate within Fastly, with the latter planning to grow the team and allow Glitch applications to take advantage of its edge computing services.
The acquisition follows a partnership between the companies earlier this year that brought Glitch to Compute@Edge, one of Fastly’s core products. Compute@Edge is a distributed application platform for running applications in edge environments on Fastly hardware.
Fastly also hopes to incorporate the Glitch community into its development process by collecting feedback from Glitch’s 1.8 million monthly users.
Price and Consensus of Fastly, Inc.
Strong acquisitions and partnerships to help client growth
Fastly is an infrastructure software provider powering cloud computing, image optimization, security, edge computing, and broadband transmission solutions. They are considered part of a cloud niche called Content Delivery Networks or CDNs.
The acquisition of Signal Sciences to further bolster security offerings is promising at a time when data protection has become increasingly critical. The company is increasingly focusing on integrating Signal Sciences’ application security capabilities into a new, unified product offering called Secure@ Edge.
In the first quarter of 2022, Fastly launched the first Signal Sciences and an embedded edge computing product called Next Gen WAF (powered by Signal Sciences). They are expected to help business customer growth in the short term.
In the first quarter of 2022, revenue increased 21% year-over-year to $102.4 million, driven by continued adoption of its modern platform and cutting-edge products, as well as an increase of $4.6 million in revenue related to products acquired from the acquisition of Signal Sciences.
Fastly’s focus on large enterprise customers such as data dog (DDOG – Free Report) also makes you immune to recession threats facing sectors such as retail and travel & tourism, as well as small and medium-sized businesses. As of March 31, 2022, the company had 457 business customers, generating 89% of total revenue for the last 12 months ending March 31, 2022.
Datadog uses the company’s API for real-time stats and analytics to display on your dashboard.
In addition, this Zacks Rank #3 (Hold) company’s focus on attracting customers outside of the United States and expanding its international presence is expected to fuel top-line growth. As of March 31, 2022, Fastly’s perimeter network spans 54 markets and 33 countries outside of the United States. You can view the full list of today’s Zacks #1 Stocks (Strong Buy) here.
In addition, the company’s exclusive Private Network Interconnections (PNIs) and interconnection agreements with key cloud providers such as Alphabet‘s (GOOGLE – Free report) Google Cloud Platform, Microsoft (MSFT – Free Report) Azure, Amazon Web Services and others, to eliminate or minimize egress fees, improve security and improve overall performance remains a key catalyst.
Tight integration with Google Cloud Platform enables real-time company logs to be streamed to any Google Cloud Platform big data service, including Google Cloud Storage, BigQuery, and Bigtable. Similarly, integration with Microsoft Azure allows real-time logs to be streamed to both Azure Blob Storage and Kusto.