Akamai Technologies Inc. on Wednesday said it has agreed to acquire Speedera Networks Inc. in a stock-for-stock merger valued at $130 million.

The deal, which is subject to approval from regulators and Speedera stockholders, is expected to be completed by the end of the second quarter.

Akamai, based in Cambridge, Mass., and Speedera, Santa Clara, Calif., provide a distributed computing platform for delivering web content and applications. The merger is expected to help Akamai compete against larger managed-services vendors by enabling it to offer a broader suite of on-demand services, company officials said.

"The combination of Akamai and Speedera will provide customers with the best attributes of both companies," said Paul Sagan, president and chief executive-elect of Akamai, said in a statement.

Based on the March 15 closing price of Akamai common stock, the stock-for-stock merger is valued at $130 million, Akamai said.