Why Fastly's Stock Is Rising Today

Shares of Fastly, Inc. (NYSE: FSLY) were rising today after the company announced that it will acquire Signal Sciences for about $775 million in cash and stock. The acquisition will help Fastly expand its security in the edge-computing market.

The company's shares rose by as much as 11.1% during trading today before settling lower. As of 3:12 p.m. EDT, Fastly's stock was up 5.7%.

Fastly's existing security solutions will be combined with Signal Sciences' technology to create a new offering called Secure@Edge. The company said in a press release that the new service will be a unified web application and API protection solution for companies.

Source Fool.com