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| Juniper Networks to acquire Siemens-subsidiary Unisphere
Juniper Networks, Inc. (Nasdaq: JNPR), a leading provider of trusted infra-structures for the New Public Network, has signed a definitive agreement to ac-quire Unisphere Networks, Inc., a Siemens company, in a combined $375 million cash and 36.5 million share stock transaction. Siemens (NYSE: SI) and Juniper Networks have also agreed to enter a global partnership in the field of IP infra-structure and related systems. Based upon Juniper Networks’ closing stock price of $9.85 on May 17, 2002, the deal has an approximate value of $740 million. Upon final closing of the transaction, which is still subject to regulatory approval, service providers and carriers will be offered a scalable IP product and service portfolio on a global scale. | |||
| 20 May 2002
, Munich and Sunnyvale
: The acquisition, slated to close in the third quarter of calendar year 2002, is subject to all required Board approvals, to Hart-Scott-Rodino approval and certain other customary closing conditions. It is expected to be slightly dilutive to Juniper Networks in 2002 and accretive in 2003. At the close of the transaction, Siemens will own slightly less than 10 percent of the shares outstanding in Juniper Networks.
In addition, partnership agreements will provide for the worldwide presence and cus-tomer base of Siemens to leverage Juniper Networks’ leading IP product portfolio for the service provider industry to deliver Next Generation voice solutions with compre-hensive IP routing technology. The relationship underscores Siemens’ aim to be a key player in the field of Next Generation Networks (NGN) with its comprehensive SUR-PASS solution portfolio for the IP convergence of data, voice and video. The worldwide reseller agreement will give Juniper Networks access to Siemens’ sales channels in 190 countries. As a systems integrator with expertise in turnkey NGN proj-ects, Siemens will be able to offer network operators end-to-end solutions comprising softswitches, gateways and IP routers. “Siemens’ IC Networks Group is concentrating on Internet-based convergence of voice and data technologies, broadband technology (emphasis on carrier and enterprise cus-tomers) and optical networking. As part of this strategy, Siemens is focusing on the components that are necessary to enable real-time communication”, said Thomas Gan-swindt, IC Networks Group President. “These activities at Unisphere were carved out before and have already been integrated into Siemens. Now we can rely on an even stronger partner for IP router technology.” "Our acquisition of Unisphere Networks highlights Juniper Networks‘ focus of supplying IP expertise to the leading service providers, carriers and PTTs throughout the world. These customers will now be able to leverage the global reach of Siemens to utilize both Juniper Networks‘ and Unisphere Networks‘ proven IP experience. The result is a broadly available portfolio of core, edge, cable and mobile IP routing and broadband access platforms," said Scott Kriens, CEO, president and Chairman of the Board of Ju-niper Networks. „We are excited to be joining Juniper Networks and believe our service provider custo-mers worldwide will continue to benefit from our proven ability to deliver carrier grade IP infrastructure solutions," said James Dolce, president and CEO, Unisphere Networks. "Unisphere Networks proven ability to deliver a best in class IP routing and broadband access solution complements Juniper Networks IP routing market leadership. Together, we have a unique ability to redefine the economic and technology requirements of glo-bal service providers in their migration to IP networks.”
Juniper Networks leads the industry in turning network innovation into the reliable delivery of core, edge, mobile and cable Internet services at scale for the New Public Network. Headquartered in Sunnyvale, California, Juniper Networks offers additional information on its product and service offerings at www.juniper.net. |
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