Akamai Technologies, which makes software that speeds up Internet traffic, announced that it will acquire e-broadcast company Network24 Communications for $200 million.

When the purchase is completed, Cambridge, Mass.-based Akamai will own Network24_s Qcast, a Web-based broadcasting application, which will broaden Akamai_s EdgeAdvantage product line. The Webcasting application includes tools for audience management, broadcast management, network management, and feedback, including live Q&A and chat features.The acquisition will mainly be a stock-for-stock merger, with Akamai issuing stock worth $230 per share, as well as $12.5 million in cash, according to a press release. Last week, Akamai announced it will boost its presence in Europe. The company currently has servers deployed in 17 countries there, spanning the networks of 27 different telecommunications operators. In all, Akamai has 2,000 servers in 40 countries, spanning 100 telecommunication networks.