Akamai Technologies is buying cloud services company Cotendo for some $268 million in cash. The transaction is expected to close in the first half of 2012.

Paul Sagan (president and CEO of Akamai): Cotendo’s technology, partnerships and people are a strong complement to Akamai. Together, we believe there is tremendous opportunity for our combined technologies as enterprises embrace the move to the cloud and seek solutions for an increasingly mobile world.

Founded in 2008, Cotendo is headquartered in Sunnyvale, CA, with a technology center in Israel. Cotendo currently has approximately 100 employees, with over 50 based in Israel.