Microsoft said the deal is intended to further the growth of the digital media market. Akamai sells software, called FreeFlow, that speeds delivery of Web pages.
As part of its agreement with Microsoft, Akamai will develop a version of its computer server software that can run on Microsoft's Windows NT operating system. Akamai's existing software has run on Linux, a Unix-like operating system.
Akamai will also incorporate Microsoft's Windows Media technologies into its software.
Microsoft's Streaming Media division intends to purchase Internet content delivery services from Akamai.
Last month, Akamai filed a registration statement with the Securities and Exchange Commission for an initial public offering.