Mumbai, Mar 5 : Juniper Networks, an industry leader in automated, scalable and secure networks, announced that the company has entered into a definitive agreement to acquire Mist Systems, a pioneer in cloud-managed wireless networks powered by Artificial Intelligence (AI).
The deal will enhance Juniper’s enterprise networking portfolio by combining Mist’s next-generation Wireless LAN (WLAN) platform with Juniper’s best-in-class wired LAN, SD-WAN and security solutions to deliver unsurpassed end-to-end user and IT experiences, a release said.
Under the terms of the agreement, Juniper Networks will acquire Mist for aggregate consideration of USD405 million, subject to adjustment, payable in cash and the assumption of outstanding equity awards. The proposed acquisition is expected to close in Juniper Networks’ fiscal second quarter, subject to regulatory approvals and customary closing conditions. It is expected to be slightly dilutive to FY’19 Non-GAAP EPS and slightly accretive to Non-GAAP EPS in FY’20.
The acquisition will expand Juniper’s presence in the rapidly growing cloud-managed segment of the wireless networking market. Further, the deal enables Juniper to extend cloud-based management and end-to-end AI-driven visibility (AI for IT) across the end-to-end enterprise network (from access to the WAN) to offer an industry-leading, software-defined and highly differentiated solution for simplifying operations, improving user experience and lowering total cost of ownership (TCO).
'Mist Systems is a great fit for Juniper and for our enterprise customers,'' explained Rami Rahim, CEO of Juniper Networks.
''Juniper and Mist share a common strategic goal. We believe in the Software-Defined Enterprise and Mist’s focus on bringing AI to IT is consistent with our core belief that we need to simplify operations and improve customer experience while lowering costs. With Mist, we are adding a market leading solution to complement our portfolio, drive the cloud transition within the enterprise and accelerate our enterprise growth.'' (UNI)