Based in California, Juniper Networks specialises in providing communication network services and equipment, such as routers and switches, catering to a diverse clientele across technology, telecommunications, finance, and other sectors
Juniper Networks is reportedly being acquired by HPE. (Credit: Hewlett Packard Enterprise Development LP)
Hewlett Packard Enterprise (HPE) is reportedly nearing a deal worth around $13bn to acquire Juniper Networks, an American firm engaged in developing networking products for telecommunications and enterprise networks.
An announcement about the deal could be made this week itself, reported Reuters, citing an undisclosed source familiar with the matter. Currently, both parties are in the advanced negotiations stage.
Headquartered in California, Juniper Networks specialises in providing communication network services and equipment, such as routers and switches, catering to a diverse clientele in technology, telecommunications, finance, and other sectors.
Additionally, the company operates an artificial intelligence (AI) division named Mist AI, utilising AI and machine learning to enhance users’ wireless access experiences.
For the third quarter of 2023 (Q3 2023) that ended 30 September 2023, Juniper Networks reported net revenues of $1.4bn and net income of $76.1m. For the fourth quarter that ended 31 December 2023, the company is expecting revenue of around $1.4bn and net income per share of around $0.63 after assuming a share count of nearly 323 million shares.
HPE, on the other hand, underwent a split in 2015, creating a separate enterprise-services producer and a computer and printer maker known as HP.
The potential deal between HPE and Juniper Networks represents a significant technology merger, standing out in a landscape that has seen a slowdown in dealmaking within the tech sector. The technology industry, typically a major driver of merger volume, has faced challenges, including heightened antitrust scrutiny from the US government, reported The Wall Street Journal.
Last year, HPE made multiple acquisitions which include that of US-based software startup Pachyderm, IT operations management company OpsRamp, private cellular network technology provider Athonet, and Israeli cloud security provider Axis Security.