Good morning, and welcome to the Limelight Networks and Edgecast merger conference call. At this time, all participants are in listen-only mode. At the end of the prepared remarks, we will provide instructions for those interested in entering the queue for the question and answer session. I will now turn the call over to Sameet Sinha, Vice President, Investor Relations and Corporate Development for Limelight. Thank you, operator, and good morning, everyone. We appreciate all of you joining us on short notice to discuss the proposed combination of Limelight and Edgecast. As a reminder, this conference call is being recorded. I would like to point out that a press release and a presentation deck is also posted on the Limelight Investor Relations site and the Edgecast website. During the call, we will begin with prepared remarks about the rationale for the combination, the complementary assets, synergies, the scale of the combined company, and the vision to be a leader in edge solutions. We'll open up the call for a question and answer session. Before we start off today, I'd like to say that we'll be discussing certain matters that inherently involve forward-looking statements and a proposed merger transaction that ultimately may or may not be consummated. As a result, I would caution you to refer to the risk factors which are outlined in our press release and SEC filings, where you'll find a more detailed discussion of those risks and uncertainties. Also, in connection with the proposed merger that we'll be discussing today, we'll be filing certain documents, including a proxy statement with the SEC in the future, which I'd encourage all of you and your stockholders to read because they contain important information. These documents can be found when filed on the SEC's website. Joining me on the call today are Bob Lyons, President and Chief Executive Officer of Limelight, and Dan Boncel, Chief Financial Officer. Bob will talk about the investment thesis behind this combination, the vision and the long-term plan of this combined entity. Dan will then provide some more context on the financial details. Over to you, Bob. Thank you, Sameet, and welcome everyone. We are excited to be speaking with you today to announce our agreement to acquire and merge Yahoo's Edgecast with Limelight in a stock-for-stock transaction. This opportunity will create a globally scaled leader in edge-enabled application, content, and video solutions for the outcome buyer. In another bit of exciting news, Limelight will soon rebrand as Edgio, with the combined companies continuing to operate as Edgio following the close. We have been very transparent and forthcoming about our strategy and vision to transition Limelight from a video-focused CDN to an edge-enabled solutions company. A company with a full suite of solutions delivering high margin and diverse recurring revenue. A company that grows both organically and through acquisitions. We started delivering on that promise very early in my tenure by first stabilizing the company and then acquiring Layer0. We now take another significant step forward with the acquisition and merging of Edgecast. Let me share a few of the highlights of this exciting combination. First, our combined 2021 revenues exceeded $500 million. Second, we expect to improve our gross margins to approximately 60% over the next two years, with improved platform utilization, more high-margin revenue, and identified net operational synergies of greater than $50 million. Third, we believe we will be recognized as having a market-leading application solution supported with Edgecast multilayer security and Limelight's Layer0 products. Combined, we will have approximately $100 million of high-growth, high-margin security and applications revenue. Fourth, our combined networks will deliver more than 200 Tbps across more than 300 PoPs strategically located in most population centers around the world. Fifth, we will add new strategic equity partners in Apollo and Verizon through their sole ownership of Yahoo, who are excited to support our vision and are fully aligned with our common shareholders. Last, with this combination, we believe we have taken a meaningful step toward our aspirational goal of being a Rule of 40 company. As a business unit of Yahoo, Edgecast is a leading provider of security, edge video services, and is the world's third-largest content delivery network. Today, Edgecast supports blue-chip media and technology companies around the world, delivering approximately 10% of global Internet traffic. Our combination immediately provides global scale at the edge and represents an important milestone in Limelight's strategic shift to being a leader in edge-enabled solutions. In previous conversations, we have shared our fundamental commitment to only consider M&A opportunities that we believe can immediately improve shareholder value. Additionally, we have focused on three specific strategic objectives. One, improving our relative industry scale. Two, expanding our security story. And three, extending our edge-enabled solutions to better utilize off-peak capacity. In Edgecast, we believe we have been able to achieve each of these strategic objectives. We will double our edge platform scale, while at the same time increasing the scale of our edge application solutions by 5x to about $100 million in revenue. We strengthen our security story with the addition of enterprise-grade WAF, DDoS, and bot security products. The addition of Edgecast's industry-leading edge video platform further diversifies our revenue and the solutions that we can deliver from our edge platform. We also expect the transaction to be substantially and immediately accretive to shareholders at an acquisition multiple of approximately 1x 2021 annual revenue, which includes an additional $30 million of cash added to our balance sheet. Together, we will be one of the largest independent CDN companies in the world. Our edge platform, powered by more than 300 globally distributed PoPs, will provide a combined capacity of more than 200 Tbps and will carry a meaningful amount of global Internet traffic. We expect that our combined products will also accelerate our ability to capture more share of our $40 billion total addressable market. In six short months, we have taken our total addressable market from $12 billion to $40 billion and are now experiencing high growth. With Edgecast, we are further solidifying our ability to be recognized as a leader in edge software solutions for the outcome buyer. On a combined basis, our security and applications business will represent approximately $100 million of revenue with greater than 70% gross margins. More importantly, we will now have the most complete set of seamlessly integrated APIs for developers, including Jamstack, scaled edge, security, application operations, and developer productivity tools as they look to migrate their platform to Web 3.0 architectures. Our API-first AppOps framework for developers seamlessly leverages our platform so they can build better digital experiences by delivering applications faster and more securely, unlike any other solution offered by competitors. We believe the combined company will be uniquely positioned to provide unmatched performance, productivity and security value at the edge for the outcome buyer. We will do this for a more diversified set of clients with better end-to-end services, a more complete edge solutions platform, and an exceptionally scaled global network. All of this means that we can better serve the combined company's diversified blue-chip customer base, including Amazon, Coach, Disney, First Republic Bank, HBO Max, Hulu, Yahoo, British Telecom, Verizon, Microsoft, Peacock, Sony, TikTok, and Twitter, to name a few. In short, we believe the combined company will provide unmatched value to brands supporting many of the world's most visited websites across technology, media, financial, communications and retail. Beyond the strategic value of this combination, we expect to also benefit from a number of important synergies. We have identified meaningful platform, operational and commercial synergies that we believe will improve our profitability and growth profile. As previously shared, Limelight has been keenly focused on improving gross margins from improved automation and a migration of our network to a Linux operating system. With Edgecast, we have the opportunity to accelerate this initiative given their previous investments in automation and current use of Linux across their edge network. Limelight has significant international presence, expertise in large file delivery, a growing sales and marketing team with proven client success practices, a high-growth AppOps platform, and a number one performing network with superior video-on-demand capabilities. With Edgecast, we add a proven channel program with partners such as Azure and Verizon, industry-leading live event capabilities, a multilayered edge security platform with scaled WAF, DDoS, and bot management, a highly synergistic edge video platform, a highly automated CDN platform based on the Linux operating system, and the IP resulting from over $85 million of product and development spend over the last four years. Our combined client roster is very complementary in nature with very little overlap. As such, we expect that the proposed transaction will meaningfully reduce client and revenue concentration. We expect revenue from our top 20 customers to reduce from a current 74% to a forecasted 61% and anticipate that our largest customer will not exceed 13% of total revenue based on current run rates. Additionally, we believe our extended product strengths and geographic footprint will provide ample opportunity for upsell and cross-sell enabled growth. Our combined 2021 revenue baseline of approximately $500 million is supported by three strategic edge solutions, applications, content, and video. On an annualized run rate basis, we expect to see a $20 million-$30 million initial burn rate that will be offset with $50 million of its identified run rate net cost synergies. Post-integration and upon successful completion of these synergy initiatives, the combined company is anticipated to have a growth rate of approximately 10%-15% better than 50% gross margins, moving to 60%, approximately 10%-15% EBITDA and positive free cash flow. A subtle yet very exciting aspect of this transaction is that we gain a valuable strategic partner in Apollo through its ownership of Yahoo. Apollo has a proven track record of improving some of the world's most innovative technology companies. With this transaction, both Apollo and Yahoo are strategic partners and are closely aligned with our go-forward strategy. We believe they are perfectly aligned with our common shareholders, believe our strategy and management team, and are adequately incentivized to support achieving our growth and profitability story. We are excited to have Apollo participate as both a large shareholder as well as board members. We believe the experience, access, and resources they bring to this opportunity will ensure that we continue building on our recent momentum. I'll now turn the call over to Dan to provide additional details. Thank you, Bob. We are confident that the combination of Limelight and Edgecast will expand our global reach, offer clients comprehensive end-to-end solutions, and will accelerate our transformation to become the partner of choice for outcome buyers at the edge. Our two companies have many complementary platforms and services that together we believe will accelerate our revenue growth rates and gross margin and adjusted EBITDA margin expansion through more robust delivery solutions, security product acceleration, and expansion into adjacent areas. We believe this is a winning combination that has been unanimously approved by the board of directors of both companies. This combination is a stock-for-stock merger, and Limelight will pay an initial equity consideration of $300 million. The equity is subject to customary adjustments at closing and is based on the 30-day volume weighted average price of $4.12, implying approximately 1x 2021 revenue. The purchase price also includes a $30 million investment in the combined company by Apollo through its ownership of Yahoo, further demonstrating its conviction to this partnership in providing further liquidity following the transaction. At this valuation, we believe the transaction is immediately accretive for our shareholders. Yahoo will receive 72.2 million shares of Limelight common stock at closing and will hold a 32% position in the combined company following close. In conjunction, the Limelight board will expand to nine members, three of which will be filled by Apollo-appointed directors. We are targeting to close in the summer of 2022 subject to approval of the stock issuance by Limelight stockholders, receipt of regulatory approvals, and the satisfaction of other customary closing conditions. Yahoo also may receive $100 million in additional equity based on stock price performance. To illustrate, Yahoo gets the first tranche of $33 million worth of shares only after our stock trades at or above $6.18 per share for 10 trading days in any 30-day period, implying an additional $450 million in shareholder value during that period. Using that logic, the achievement of the entire $100 million stock performance earn-out would imply in excess of an additional $1 billion in shareholder value. We believe we structured this transaction in a manner such that the earn-out pays for itself many times over. For 2021, Limelight and Edgecast together generated annual revenue of approximately $500 million. On a combined basis, revenue was approximately 53% from Edge delivery, 22% from Edge applications, and 25% from Edge video. On a combined basis, in 2021, Limelight's customer concentration with the top 20 clients would have reduced to 61% of revenue, down from 74%, and our top clients would have been 13%, down from 29% during the same period. On a pro forma basis, this combination significantly diversifies our revenue among products and clients. In addition, Edgecast gross margins were significantly higher than our gross margins in 2021, driven by a higher proportion of their revenue coming from security and video SaaS-like products. With current gross margins in excess of 50% and approximately $25 million-$30 million in cost synergies expected to come from reduced co-location and Internet peering expenses, we believe this acquisition accelerates our goal of significantly improving our gross margin profile. We also expect $15 million-$20 million in net operating cost savings focused on headcount and facilities when coupled with the expected $25 million-$30 million of COGS-related synergies. It brings the expected total of net annual run rate synergies to approximately $50 million. We expect to achieve approximately half of the $50 million in the first two quarters after closing, which will offset our forecasted initial cash burn. We also anticipate significant revenue synergies, and we'll provide more clarity around them as part of our integration process post-close. We are very excited about the future of the combined entity and will provide updated guidance upon closing. Between the increased industry TAM, our broader capabilities, and platform, when you combine our Edge application products with their security and web CDN offerings, we expect significant revenue acceleration and margin expansion. From a long-term perspective, we expect the combined company to have the following profile. Revenue growth of 20%-25% and adjusted EBITDA margin of at least 15%-20%. I'll now turn the call back over to Bob. Bob? Thanks, Dan. I want to again reiterate the compelling value and benefits we believe this transaction will deliver for our combined clients, shareholders, and employees. It bolsters our solutions roadmap by enabling us to go after a larger total addressable market, diversifies our customer base, reduces revenue concentration, increases gross margins, and adds significant recurring revenue. We believe the proposed acquisition of Edgecast is structured at a very attractive multiple with meaningful synergies and a large cash infusion to accelerate our ability to capture those synergies. We believe this will create meaningful value for our shareholders. Before turning to Q&A, I would also like to take a moment to touch on our new corporate identity. I previously communicated our intention to rebrand Limelight, but to do so from a position of strength. Our recent business momentum and this transaction makes this the right time to do that. We will soon operate under the Edgio banner, and the combined company will continue operating as Edgio post-closing. This brand identity better captures our strategic intent to be the leading edge solutions provider for the outcome buyer. We will provide additional information and details on this rebranding in the coming weeks. Please feel free to visit edg.io for more information on today's announcement and our new company identity. I will now turn the call over to the operator for Q&A. Thank you. If you would like to ask a question, please press star followed by one on your telephone keypads. If you change your mind, please press star followed by two. When preparing to ask your question, please ensure your phone is unmuted locally. We will pause for a moment to allow questions to be registered. Our first question comes from Jeff Van Rhee from Craig-Hallum Capital Group. Jeff, please go ahead. Great. Thanks for taking my questions. Congrats, guys. Several for me, if you would. I guess first, talk about the integration, just key stages and steps. You talked about the common Linux platforms, but just, in terms of the sort of the top three things you've got to get done here right away in terms of integrating the businesses. Secondly, I'm interested in the outcomes-based buyer. Obviously, you've mapped out the strategy to take Layer0 and the combined capabilities, and pursue that outcomes-based buyer. With these two large installed bases, is the sales org still gonna be very keyed on going after new business? Or how do you think about upsell, cross-sell into the installed bases? Hey, Jeff. Hey, it's Bob. How are you doing? Thanks for the question, and thanks for the congratulations. We're pretty excited about this deal, as you can imagine. As far as the integration, we spent a lot of time on that. We have a lot more work to do, but I think there's a couple key elements that we need to focus on. Obviously, primarily, we're gonna have two networks that we wanna combine into one. The synergy between the two networks is pretty nice, actually, when you think about it. Their network is really optimized for small object security and web apps. Ours is for large object, large library. When we combine those together, not only is it a better experience for our customers because we have that all in one place, but also, you know, they're running on Unix. We've already talked about the fact that we have a lot of upside when we move to Unix, so they're gonna help us do that more aggressively and faster. But having said all that, you know, as we migrate these networks together, we're gonna be very thoughtful about it. We're not going to, you know, we're gonna stay true to our performance-first mentality and make sure we do it thoughtfully. You know, it's not gonna happen in six months. It's also not gonna be two years either, so somewhere in between those times, and we'll probably do it in stages. Now that we've got an announcement out there, we can bring more people into the conversation, and we'll be able to build those detailed plans. We have enough to understand that we can do it, and you know, drive these synergies, and we're pretty comfortable, but a lot more planning to do over the next three months. As far as the Outcomes buyer, you know, that's an area we've done since we announced that. It's a big untapped, you know, unmet need in the marketplace. We think there's a need for somebody to bring that together. You know, one of the areas that we're really excited about with this deal too is we have in our Layer0 acquisition what we think is one of the best application development frameworks, Jamstack frameworks. Now we also bring to that enterprise-class security to go with that. When you have those two things together, plus our scale that we're bringing with this deal, you know, I would argue we have the most complete solution out on the market today for, you know, application acceleration, performance, and security. We're pretty excited about that. You know, with that being said, there's a couple areas where we're gonna focus the sales team. Definitely gonna focus on new growth. We're going to be a growth company. We've said that. Some of the synergies there, they have a strong channel program, which we have not had historically. We were in the process of thinking about building one. Now we'll be able to put those two together. We've ramped up our sales team in the last few months, as you know. We've talked about that. The combination of our direct sales ramp up, their channel program, really creates a very compelling, go-to-market channel for us. There is no doubt opportunities for cross or upsell. We're going to do that, and we're gonna do that very aggressively, but we're gonna do that in concert with being able to organically grow as well. We think we have the best application product out there. We wanna make sure that, we take advantage of that in the marketplace. We're pretty excited about that. That's great. Two last quick ones if I could. In terms of Edgecast, you know, give us a little bit of a history lesson. How was this business in terms of revenue growth over the last three years? What kind of operating margins were they delivering? I think you gave that $20 million-$30 million burn down, but maybe just a little history there. Last one for me, you've talked a lot about taking the base business and driving utilization. Every point of utilization being, you know, $6 million-$9 million in incremental EBITDA. What does this do on a combined basis to utilization? Maybe just those two, historical revenue growth and operating margin and some thoughts on utilization. Yeah. Let me start with utilization first. There's a couple key points to that. Number one, obviously moving to Linux faster will help us drive that utilization up. Number two, the fact that now 40% of our revenue would be non-video CDN revenue, which really helps our utilization. That was our core strategy, as you recall. Then the other additional thing, it's really interesting. They have a pretty heavy concentration with live events, so their peak seasons are, let's say, March, you know, March Madness and things like that. Their seasons are actually contrary to our lows and our seasonality. You put the two together, and that's certainly gonna translate into driving more utilization on our network. We've got some work to do to figure out what that'll exactly turn out, but we think there's a lot of opportunity there, and we're pretty excited about that. As far as Edgecast, you know, the way to think about Edgecast, their business was largely focused on applications and security, largely security. Traditional CDN for video and then video platform. The video platform business was growing at a double-digit rate pretty reasonably for the last few years. Their security was growing robustly as well. Seemed a little bit soft, but they you know, came out with the other two pieces. The way we think about it is that, you know, the security growth tied with our Layer0 rapid growth is going to make a very robust growth platform for us. The video space will continue to be a growth. We're gonna continue to invest in that and focus on that. Then, you know, what we've done over the last nine months with our operational model, we think we can also bring that to the CDN business and drive growth there. The other thing to keep in mind is that Edgecast was tucked into, for the last four years, a very large company where they were, you know, really not main stage thing. So they've largely been run as a product-oriented organization, not a sales commercial organization. They've been driving those growth rates because they have not really had a you know primary go-to-channel focus. We think we can actually build on that with the combination of the two companies. Yep. For sure. Great. Thank you. Thanks for taking my questions. Congrats. Yep. Thanks, Jeff. Our next question comes from the line of Michael Elias from Cowen and Company. Michael, please go ahead. Hi, guys. Thank you for taking the question. You know, earlier in the script, I believe you mentioned, you know, growing the company organically as well as via M&A. I mean, this is a great but pretty notable transaction in terms of size. I just wanna get a sense of moving forward, you know, how should we think about your willingness or desire to pursue additional M&A deals? Then second, you know, just wondering, seems like you guys are putting the pieces of the puzzle together, growing the company. I'd like to know, you know, what additional capabilities do you feel like you need to add in order to be successful in driving, you know, Limelight or Edgio, in the direction that you see it going? Hey, Michael. Thanks for the question. So there are really three strategic objectives that we have tied to our M&A strategy. First is to drive relevant scale in the industry. We, you know, we've talked about the fact that in our industry, performance and price are the two biggest factors for taking market share. Price, obviously, depending on your cost model. Those two things are mostly driven by scale. The more that we can drive scale in our business, the more we can compete and take market share. We'll continue to drive that. Number two, we've also been pretty bullish on the fact that we wanna be known as a security company, and we will keep strengthening our security story, and we'll look for opportunities there. We have all this unused capacity during non-peak times that we think we can use for other things like access and multi-cloud connectivity and zero trust and things like that. We'll look for opportunities there as well to better utilize this unused capacity in non-peak times. We'll do those three things. This deal checks the box in all three of those things. The other thing we've also said is that any deal we do has to be immediately value accretive to our shareholders. That's really important to us. We'll be patient until we can find those deals. The way we do that is the same way we did it with Layer0 and the same way we're doing it here, is, you know, the other party really believes in the story and the strategy and wants to participate going forward, and we think that's an important part of these deals. Going forward, we'll continue to foot the bill in those things. We're going to be very thoughtful and opportunistic about that, anything that is too expensive or, you know, puts more burden on our balance sheet. We think there's opportunities out there. I would say, you know, where our focus is going to shift now is largely around the security and connectivity focus that we've talked about. Those will be a little bit more tuck in of late in. you know, other scaled opportunities come along like this that actually meet that criteria. We'd certainly be open to it. Perfect. Thank you. It'll definitely be a part of our strategy going forward. Yeah, no problem. It'll definitely be a part of our strategy going forward, only where it makes sense. Understood. Sounds good. Thank you. Our next question comes from Eric Martinuzzi from Lake Street Capital Markets. Eric, please go ahead. Hey, guys. Congratulations on the significant transaction here. Not to take anything away from Limelight, but you do have other competitors out there. I'm curious to know what in your mind made Limelight the obvious partner for Apollo to approach for this transaction versus your competitors. Yeah. I think there's a couple factors. I think when you look at consolidation in the CDN space, one of the challenges that we all have is that we oftentimes share customers. If you do, you know, a merger, you'll lose a lot of the value of that deal because, you know, customers will just change their traffic patterns to diversify again. With our in this case, we only have one customer that overlaps, and that one customer actually will see this as a benefit to them for a number of reasons. There was very little overlap. That was unique. Secondarily, we spent a lot of time over the last twelve months putting together a strategy and executing on that and putting momentum back in the business. When we started these conversations back in, you know, late summer, early fall, I think what really kinda changed those conversations is when Apollo spent, you know, did their homework and spent the time really understanding the opportunity, the outcome buyer strategy or execution, understood the synergies between the two companies, it really became very compelling. It's one of the reasons why we structured the deal the way we did, is we think there's more upside. When you do the math, you know, they'll do much better, playing forward with us strategically than they would just trying to do a traditional transaction. They kinda got us to the right answer for meeting all of our criteria. Yeah. The why this may not have worked for other competitors, I think largely because of overlap. You know, this just fit really well with us. It was very complementary in so many dimensions. Okay. All right. The investor event back in August, you apparently had other meetings besides that going on. Okay. My second question. We're, we're- I guess you're making good use of your airplane tickets. Let me ask on the customer diversification. You know, do you have, obviously they've got their large customers. Do we have lock-ins or, you know, contractual handoffs here? You know, obviously the Yahoo, the Verizon traffic, is there, can they up and leave? How locked in are their significant customers? The ones where we can, like Yahoo and Verizon, we have those. We, you know, that was part of getting to, the announcement this morning was getting those things in place, and we've done all that. We're pretty comfortable there. We've also done a lot of work on some of the channel partners like Microsoft and making sure we're good there. As far as the regular customers, you know, obviously we couldn't talk to them, so we're gonna start that effort starting today and having those conversations. You know, we know the industry well, and it boils down, we've just got to perform better than anybody to make sure the pricing's fair, and we'll be fine there. I think given the traction that we've put in Limelight over the last 12 months with our customer first and performance first model, you know, we think that we actually are gonna, you know, hopefully gonna be convinced them it's gonna be a benefit for them, not only to stay with us, perhaps do more with us. Got it. Thanks for taking my questions. Our next question comes from Jim Breen from William Blair. James, please go ahead. Thanks for taking the question. Just on the network side, can you just talk about sort of the overlap geographically in the U.S., outside the U.S., and then, you know, does this change at all how you think about capital expenditures going forward? Thanks. Great question, James. Thanks for the question. I'll start with the CapEx. You know, initially, we don't expect that to change very much. Obviously, we're gonna spend money to integrate the two networks, combine them. You know, they're running at a very similar CapEx rate as we are for the same reasons. We expect that for the foreseeable future to be largely the same. Obviously, when we have a unified network, there'll certainly be some CapEx synergies, but nothing that we're gonna project at this point. As far as the overlap geographically, I think in the U.S. there is an overlap for sure, and there's synergies there. There's also areas where we're stronger and they're not, like LatAm and Canada, for example. I think Europe and Asia Pac, it's very complementary. We'll just have much better penetration and capacity there than what we have today, which again translates into being able to deliver, you know, more for clients that are looking to do more there. I think the other important thing about the two networks is not only the geographic synergy and the architectural synergy, the fact that Edgecast that we've talked about has really climbed into the number one slot for CDN, particularly in North America and oftentimes globally for performance. They're right behind us. We take the two networks and put them together, and we combine where they do really well on small object and security, and we do really well in large library, large video, and put those together, you know, we should have a very performance-oriented network that's gonna be hard to compete with. That's one of the areas we're gonna be really focused on. Just secondly, you know, any early idea on kind of the mix in terms of revenue inside the U.S. versus outside the U.S. for the combined company? Yeah, I'll take that one, Jim. Their revenue is primarily focused in North America with North American customers. They have, you know, over 70% of their revenue is driven from North American customers with the rest in Europe and Asia primarily. Yeah. That's actually one of the areas for the cross-sell, upsell opportunity. We can now leverage our Asia Pac and EMEA teams to sell security and that they have through, you know, through those geographies. Great. Thanks a lot. Thank you. As a reminder to ask any further questions, please press star followed by one on your telephone keypads. Our next question comes from Rudy Kessinger with D.A. Davidson. Rudy, please go ahead. Hey, guys. Thanks for taking my questions. Going back to, I think the rev splits you gave earlier. I think slash security, inclusive of both. Could you further break down that 22% rev? How much is security versus maybe application orchestration? Sure. I'll take that, Rudy. You know, that 22% is combined revenue of Limelight plus Edgecast in 2021 numbers. With Limelight projected revenue for Layer0 actually going $422 million, we estimate approximately $20 million related to that deal. You add on top of that the security and traffic that comes along with those customers, you get to approximately $100 million as the combined company. Okay. Could you- Yeah. Think about it. Any other details you can give? I agree on tight margin. Oh, sorry. Go ahead, Rudy. No worries. I guess on the Edgecast customer base, just how many customers do they have? What's the average revenue per customer, average size? Any further details you can give on their base, just given the minimal overlap? Yeah. We have about, you know, 600 customers-700 customers for them. You can do the math there and it's a significant average revenue per customer. All right. Got it. Thanks, guys. Thank you. We currently have no further questions, so I'll now hand back over to the management team for any closing remarks. Okay. Well, thank you everybody for the call. We're really excited about the opportunity to move this deal forward, and we look forward to having further conversations over the coming days. Thank you for your time this morning. This concludes today's call. Thank you for joining. You may now disconnect your lines.