Benzinga | Aug 27, 2020 10:48AM EDT

Why Fastly's Stock Is Trading Higher Today

Fastly, Inc. (NYSE:FSLY) shares are trading higher after the company announced an agreement to acquire Signal Sciences for roughly $775 million in cash and stock.

Signal Sciences' technology combined with Fastly's current solutions will form Fastly's upcoming new security offering, Secure@Edge. Secure@Edge will be a modern, unified web application and API protection solution that will power and protect companies looking to further or begin their digital transformation, the companies said in a press release.

Fastly operates an edge cloud platform for processing, serving, and securing its customer's applications. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the Internet.

Fastly's stock was trading up 4.35% at $93.58 per share on Thursday at the time of publication. The stock has a 52-week high of $117.79 and a 52-week low of $10.63.