INDEX / DIRECTORY / AKAMAI / ECONOMIC

Akamai ECONOMIC

ECONOMIC AUDIT UPDATED 2026-09-28
Economic Score 7.20 /10 B Akamai - BDS-1000 630
Economic 7.20

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Supply Chain & Sourcing Relationships

Akamai’s 2025 Form 10-K describes the group as a cloud-computing, security, and content-delivery business and discusses dependence on hardware, network, and colocation suppliers; the reviewed filing does not identify a named Israeli manufacturing supplier or an Israel-specific goods-import chain 1. Ness/ITway’s live Israeli partner page, checked 28 September 2026, identifies ITway as a senior/platinum Akamai partner in Israel and says it provides Akamai-based solutions to organizations, establishing a downstream Israeli sales and services channel rather than a manufacturing supplier relationship 2. A second Ness page describes CDN and edge-computing implementations using providers including Akamai, AWS CloudFront, and Fastly, corroborating local channel activity without allocating the cited customer count specifically to Akamai 3.

No public evidence identified of direct sourcing from Mehadrin, Hadiklaim, Galilee Export, Agrexco successors, or other Israeli agricultural aggregators/exporters.

No public evidence identified of an Akamai-owned importer of record for Israeli-origin physical goods, seasonal Israeli produce procurement, or Israeli-origin private-label/white-label goods.

Product Origin, Labeling & Regulatory Compliance

Akamai’s disclosed products and services are digital cloud, delivery, and cybersecurity offerings rather than retail food or consumer-goods lines, so the reviewed corporate filing does not describe country-of-origin labeling for physical merchandise 1. No public evidence identified of Akamai selling settlement-origin produce or other settlement-manufactured consumer goods.

No public evidence identified of a regulator citing Akamai for mislabeling goods from the West Bank, East Jerusalem, Jordan Valley, or Golan Heights.

The UN Human Rights Office’s 26 September 2025 update says its settlement-business database contains 158 enterprises from 11 countries and is limited to specified settlement-related business activities; a name check of the report’s current listed enterprises found no Akamai entry 4. The June 2025 Special Rapporteur report A/HRC/59/23 was also checked by name and contains no Akamai-specific finding in the reviewed text 5. AFSC Investigate’s occupation-company database page, checked 28 September 2026, likewise did not yield an Akamai company entry in the reviewed material 6. These bounded non-listing checks do not establish the absence of every possible commercial relationship in Israel or the occupied Palestinian territory because each source has its own selection and review scope 4, 5, 6.

No public evidence identified of an Akamai corporate policy specifically governing sourcing or labeling of goods from occupied or contested territories.

Investment, Capital & Financial Exposure

Akamai has repeatedly deployed acquisition capital into businesses with Israeli operations or Israeli corporate identity 7, 8, 9, 10, 11, 12, 13. [pre-2020] In March 2012 Akamai acquired Cotendo for $278.9 million in cash plus assumed unvested options, and the filing identifies acquired technical workforce in both the United States and Israel; the source does not establish that all consideration flowed to Israeli sellers 7. [pre-2020] In November 2019 Akamai acquired Israel-based ChameleonX Ltd. for $11.9 million cash, with the filing attributing value to technology and trained workforce 8.

In September 2021 Akamai announced an agreement to acquire Tel Aviv-based Guardicore, and its 2021 10-K records approximately $610.4 million of cash consideration and about 270 Guardicore employees at acquisition 9, 10. In May 2023 Akamai acquired all outstanding equity of Neosec, Inc. for $91.4 million in cash; the filing says the acquisition was intended to complement Akamai’s application and API security portfolio 11. CTech’s 2025 reporting describes Guardicore, Neosec, and Noname as major local acquisitions used to build Akamai’s Israeli development center 14.

In June 2024 Akamai acquired all outstanding equity interests of Noname Gate Ltd. for $452.3 million in cash, and the 2025 subsidiary exhibit identifies Noname Gate Ltd. as incorporated in Israel 12, 15. In May 2026 CTech described LayerX Security as an Israeli cybersecurity startup being acquired for approximately $205 million, and Akamai’s Q2 2026 filing states that in July 2026 it acquired all outstanding equity interests of LayerX Security Ltd. for approximately $205.0 million in cash 16, 13. A July 2026 CTech report confirms completion of that transaction, while a separate 2026 hiring report documents continued Israeli recruiting after the acquisition 17, 18.

The acquisition chronology shows continuing Israeli-linked capital deployment after 19 July 2024 and after November 2024, most clearly through the 2026 LayerX transaction 13, 16, 17. The transaction prices are group acquisition consideration and do not establish how much ultimately accrued to Israeli-resident founders, employees, investors, or tax authorities 7, 10, 11, 12, 13.

Akamai’s 2025 investment disclosures identify categories including corporate bonds and time deposits but do not identify an Israeli sovereign-bond position by issuer 1. No public evidence identified of Akamai underwriting Israeli sovereign debt, selling Israel Bonds, directly lending to settlement-listed companies, or operating an Israel-focused investment fund.

The 2026 proxy reports that Vanguard beneficially owned 18,376,759 Akamai shares, or 12.7%, with no sole voting power, shared voting power over 840,071 shares, sole dispositive power over 17,169,204 shares, and shared dispositive power over 1,207,555 shares 19. Vanguard is therefore a substantive in-scope major shareholder for this review even though the filings do not show operating control over Akamai. A Vanguard Schedule 13G/A filed 26 March 2026 states that, after a 12 January 2026 internal realignment, The Vanguard Group ceased reporting the position on an aggregated basis because certain subsidiaries and business divisions report beneficial ownership separately while continuing the same investment strategies 20.

Post-realignment filings show the position at adviser-business-unit level rather than as one Vanguard block. Vanguard Capital Management reported 10,649,201 shares, or 7.34%, at 31 March 2026, with sole voting power over 1,261,420 shares and sole dispositive power over all 10,649,201 shares; its filing identifies Vanguard Asset Management Limited, Vanguard Fiduciary Trust Company, Vanguard Global Advisers, LLC, and Vanguard Investments Australia Ltd. and states that the reported securities are held by Vanguard funds or sleeves and managed clients 21. Vanguard Portfolio Management separately reported 7,558,437 shares, or 5.21%, with sole voting power over 31,912 shares and sole dispositive power over all 7,558,437 shares, and identified Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC as relevant affiliates 22. The two filings do not name the underlying Akamai fund or account holders and should not be arithmetically combined because the reporting structure is disaggregated at business-unit level 21, 22. Each filing was made under Rule 13d-1(b) and certifies ordinary-course ownership without a purpose or effect of changing or influencing control of Akamai 20, 21, 22.

Vanguard-managed assets also had material Israel-linked exposure. Because Vanguard is Akamai’s disclosed 12.7% beneficial owner, those positions remain in-scope principal evidence even though they are not Akamai treasury transactions. Vanguard Capital Management’s amended Form 13F information table for 31 March 2026 reports 713,771 Elbit Systems Ltd. shares with a reported value of 601,788,895 and lists no voting authority for those shares in the table 23. Separately, Vanguard Total International Bond Index Fund’s 31 January 2026 schedule allocated 0.4% to Israel and listed multiple State of Israel government-bond tranches 24. Vanguard describes that fund as seeking to track a benchmark of investment-grade bonds issued outside the United States and as passively managed using index sampling 25. These records establish Israeli defense-equity and sovereign-debt exposure within Vanguard-managed assets. The sovereign-debt example is expressly index-based, and the reviewed filings do not establish that the Elbit holding belonged to an Israel-focused fund or represented a deliberate Israel-specific policy; those facts constrain the strength of the principal nexus without excluding the documented exposure 23, 24, 25.

Leighton’s February 2026 Form 4 reports Akamai shares held indirectly through the F. Thomson Leighton and Bonnie B. Leighton Revocable Trust and the TBL Foundation, with Leighton serving as trustee 26. ProPublica’s IRS-derived Nonprofit Explorer identifies TBL Charitable Foundation, lists F. Thomson Leighton as trustee, and reports 2024 year-end net assets of $31,662,087 27. No public evidence identified of a current Israel-linked equity or capital investment by Leighton or the TBL Foundation after targeted review of SEC ownership filings and the foundation’s available public nonprofit records; the available foundation record does not provide a complete look-through of any pooled investment vehicles 26, 27.

No public evidence identified of manufacturing by an acquired Israeli business under Akamai ownership; the acquired businesses documented here are software/cybersecurity operations rather than factories.

Operational Presence & Market Activity

At 31 December 2025 Akamai reported more than 11,000 employees worldwide, approximately 6% located in Israel, and identified Tel Aviv among its largest office locations 1. A 2025 CTech interview with founder/CEO Tom Leighton reported about 700 employees in Israel, mostly in development and cyber, and described the local center as built through Guardicore, Neosec, and Noname 14. A January 2025 CTech interview with an Akamai engineering/security executive likewise described an Israeli R&D center of about 700 people and characterized it as the company’s cyber hub 28. A 2024 CTech report on a management change also described the Israeli R&D center as employing about 700 people and tied its growth to local cybersecurity acquisitions 29.

CTech reported in 2026 that Akamai continued recruiting in Israel for development, product, and sales roles, providing post-November-2024 evidence of ongoing local employment 18. Ness/ITway’s live partner pages further document current commercial distribution and service activity for Akamai in Israel 2, 3.

Akamai’s 2025 Form 10-K reports cash income taxes paid in Israel, net of refunds, of $32.557 million in 2025, $14.162 million in 2024, and $10.278 million in 2023 1. This disclosure establishes tax payments in the jurisdiction but does not state Akamai Technologies Israel Limited’s standalone taxable income, statutory/effective Israeli tax rate, or any Preferred Technology Enterprise benefit 1. No public evidence identified of an Akamai-specific Preferred Technology Enterprise designation or Israeli Innovation Authority grant.

The Ness partner page separately describes Project Nimbus as involving Israeli government bodies including the Defense Ministry and IDF, but the page’s Akamai section only identifies ITway as an Akamai partner and does not state that Akamai supplies Nimbus, the Defense Ministry, or the IDF 2. Official National Digital Agency procurement notices nevertheless document Akamai distributed-DNS services supplied through ITway: NIS 1.1 million for 15 September 2021 through 14 September 2024 and NIS 450,000 for 15 September 2025 through 14 September 2026 30, 31. The notices establish a civilian central-government purchasing channel through the reseller; they do not identify the IDF, Defense Ministry, a settlement municipality, or a settlement-located customer as the purchaser 30, 31.

No public evidence identified of Akamai offices, warehouses, data-center real estate, or other physical facilities located in West Bank settlements, East Jerusalem settlements, or Golan Heights settlements.

Corporate Structure & Foundational Ties

Akamai Technologies, Inc.’s 2025 Form 10-K identifies the registrant as a Delaware corporation headquartered at 145 Broadway, Cambridge, Massachusetts, and the company operates as one reportable segment 1. [pre-2020] The filing records Akamai’s corporate origin in 1998 rather than an Israeli incorporation, while the current subsidiary exhibit separately identifies Israeli group companies 1, 15.

As of 31 December 2025, Akamai’s SEC subsidiary exhibit lists Akamai Technologies Israel Limited, Guardicore Ltd., and Noname Gate Ltd. as entities incorporated in Israel 15. The same exhibit places those companies within the Akamai group rather than above Akamai Technologies, Inc., and the 2026 proxy’s disclosed major holders are Vanguard and BlackRock rather than an Israeli parent or controlling shareholder 19, 15. Vanguard’s later 2026 Schedule 13G filings describe institutional investment-adviser holdings made in the ordinary course and do not report special board, charter, or other operating-governance rights over Akamai beyond the disclosed voting and dispositive authority 20, 21, 22.

The Israeli acquisition path has been operationally integrated into Akamai’s cybersecurity business: the 2021 filing records Guardicore’s acquired workforce and technology, the 2023 filing states Neosec was acquired to complement application/API security, and the 2024 filing says Noname was acquired to expand API security 10, 11, 12. CTech’s 2025 and 2026 reporting characterizes the Israeli operation as a cyber/R&D hub and treats LayerX as the next Israeli cybersecurity acquisition 14, 28, 16.

No public evidence identified of Israeli state ownership, a government-appointed Akamai director, a golden share, or a charter provision granting the Israeli state governance rights over Akamai.

No public evidence identified of Akamai’s principal place of management being in Israel.

Profit Repatriation & Economic Contribution

Akamai reported 2025 revenue of approximately $4.208 billion, comprising $2.139 billion attributed to the United States and $2.069 billion attributed to international markets under its geographic revenue methodology 1. The filing does not separately report Israel revenue and states that no individual country other than the United States accounted for 10% or more of total revenue 1. No public evidence identified of a public Israel-only revenue figure for Akamai.

The 2025 filing reports foreign pretax income at group level and records the Israel cash-tax payments noted above, but it does not provide a standalone Israeli profit figure 1. It also records a 2024 Israeli tax effect associated with an intercompany intellectual-property sale without identifying the asset, counterparties, or a country-by-country transfer-pricing flow 1. Akamai states that undistributed foreign earnings were considered indefinitely reinvested at year-end 2025, but the filing does not identify Israel-specific dividends, royalties, or repatriation amounts 1. No public evidence identified of a quantified direction or amount of profit repatriation specifically between Akamai’s Israeli entities and the U.S. parent.

The strongest public indicators of Akamai’s economic role in Israel are employment and R&D scale rather than separately disclosed Israel revenue: the company filing places roughly 6% of global employees in Israel, while 2025 CTech reporting puts the local workforce at about 700 and describes it as primarily development/cyber work 1, 14, 28. The 2026 LayerX purchase and continued Israeli recruitment show that this operating footprint remained active after the July 2024 ICJ advisory-opinion date and the November 2024 ICC-warrant period referenced in the research brief 13, 16, 17, 18.

No public evidence identified of an Akamai-specific public designation as Israeli critical national infrastructure or as a dominant supplier to the Israeli state.

Footnotes

  1. https://www.sec.gov/Archives/edgar/data/1086222/000108622226000022/akam-20251231.htm ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12 ↩13 ↩14

  2. https://www.ness-tech.co.il/cloud-en/partners ↩ ↩2 ↩3

  3. https://www.ness-tech.co.il/cloud-en/solutions ↩ ↩2

  4. https://documents.un.org/api/symbol/access?l=en&s=A%2FHRC%2F60%2F19&t=pdf ↩ ↩2

  5. https://www.un.org/unispal/document/a-hrc-59-23-from-economy-of-occupation-to-economy-of-genocide-report-special-rapporteur-francesca-albanese-palestine-2025/ ↩ ↩2

  6. https://investigate.afsc.org/occupations ↩ ↩2

  7. https://www.sec.gov/Archives/edgar/data/1086222/000154256712000005/akam10q6302012.htm ↩ ↩2 ↩3

  8. https://www.sec.gov/Archives/edgar/data/1086222/000108622220000045/akam10k123119.htm ↩ ↩2

  9. https://www.sec.gov/Archives/edgar/data/1086222/000108622221000264/galaxy-akamaipressrelease.htm ↩ ↩2

  10. https://www.sec.gov/Archives/edgar/data/1086222/000108622222000058/akam-20211231.htm ↩ ↩2 ↩3 ↩4

  11. https://www.sec.gov/Archives/edgar/data/1086222/000108622224000040/akam-20231231.htm ↩ ↩2 ↩3 ↩4

  12. https://www.sec.gov/Archives/edgar/data/1086222/000108622225000028/akam-20241231.htm ↩ ↩2 ↩3 ↩4

  13. https://www.sec.gov/Archives/edgar/data/1086222/000108622226000086/akam-20260630.htm ↩ ↩2 ↩3 ↩4 ↩5

  14. https://www.calcalistech.com/ctechnews/article/byh1bufb11l ↩ ↩2 ↩3 ↩4

  15. https://www.sec.gov/Archives/edgar/data/1086222/000108622226000022/exhibit211_10k2025.htm ↩ ↩2 ↩3 ↩4

  16. https://www.calcalistech.com/ctechnews/article/byinuqxkme ↩ ↩2 ↩3 ↩4

  17. https://www.calcalistech.com/ctechnews/article/onuz53rcd ↩ ↩2 ↩3

  18. https://www.calcalistech.com/ctechnews/article/3aknuda56 ↩ ↩2 ↩3

  19. https://www.sec.gov/Archives/edgar/data/1086222/000108622226000042/akam-20260330.htm ↩ ↩2

  20. https://www.sec.gov/Archives/edgar/data/1086222/000010290926000556/primary_doc.xml ↩ ↩2 ↩3

  21. https://www.sec.gov/Archives/edgar/data/1086222/000210011926000149/primary_doc.xml ↩ ↩2 ↩3 ↩4

  22. https://www.sec.gov/Archives/edgar/data/1086222/000210012126000066/primary_doc.xml ↩ ↩2 ↩3 ↩4

  23. https://www.sec.gov/Archives/edgar/data/2100119/000210011926001311/13F_0002100119_20260331_VCM1.xml ↩ ↩2

  24. https://personal1.vanguard.com/funds/reports/h1231q1.pdf?2210201101= ↩ ↩2

  25. https://workplace.vanguard.com/investments/product-details/fund/2011 ↩ ↩2

  26. https://www.sec.gov/Archives/edgar/data/1086222/000110623226000004/wk-form4_1771880944.xml ↩ ↩2

  27. https://projects.propublica.org/nonprofits/organizations/203982689 ↩ ↩2

  28. https://www.calcalistech.com/ctechnews/article/8mvltq6h0 ↩ ↩2 ↩3

  29. https://www.calcalistech.com/ctechnews/article/rj00feycyye ↩

  30. https://mr.gov.il/ilgstorefront/en/p/4000603917 ↩ ↩2

  31. https://mr.gov.il/ilgstorefront/en/p/4000552005 ↩ ↩2