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Business Wire
13 hours ago
- Business
- Business Wire
Hewlett Packard Enterprise Closes Acquisition of Juniper Networks to Offer Industry-Leading Comprehensive, Cloud-Native, AI-Driven Portfolio
HOUSTON--(BUSINESS WIRE)-- HPE (NYSE: HPE) today announced the successful completion of its previously announced acquisition of Juniper Networks, Inc., a leader in AI-native networks. The combination positions HPE to capture the growing AI and hybrid cloud market opportunity by creating an industry-leading cloud-native and AI-driven IT portfolio, including a full, modern networking stack. The transaction doubles the size of HPE's networking business and provides customers with a comprehensive portfolio of networking solutions. It also accelerates the company's portfolio mix shift to higher-margin, higher-growth areas and positions the company for long-term profitable revenue growth. 'Today begins a new era for HPE – we are now at the epicenter of the transformation of IT, where AI and networking are converging,' said Antonio Neri, president and CEO of HPE. 'In addition to positioning HPE to offer our customers a modern network architecture alternative and an even more differentiated and complete portfolio across hybrid cloud, AI, and networking, this combination accelerates our profitable growth strategy as we deepen our customer relevance and expand our total addressable market into attractive adjacent areas. We look forward to welcoming the Juniper team to HPE.' 'HPE and Juniper have a unique opportunity to disrupt the networking industry at the most important and relevant time,' said Rami Rahim, former CEO of Juniper Networks, who will now lead the combined HPE Networking business. 'Together, we'll be able to provide customers and partners with a secure network that is purpose-built with AI and for AI.' Compelling Strategic & Financial Benefits Transformative for HPE's strategic evolution. The acquisition accelerates HPE's strategic vision with a full networking IP stack: from silicon, to hardware, to the operating system, to security, to software and services, with a cloud-native and AI-driven approach. This integration will accelerate customers' deployment and adoption of both hybrid cloud and AI. Bolsters HPE's position as a networking leader. The acquisition doubles the size of HPE's networking business, substantially increasing its scope and total addressable market. The combined company will reach large adjacent markets, including data center, firewalls, and routers, bridging the global strength of HPE in enterprise security-first networking and SASE security with Juniper's position in data center, service provider, and AI-native solutions. Provides customers with a leading AI-native foundation for their end-to-end networking needs. The transaction builds on the combined capabilities of HPE and Juniper to provide customers of all sizes with the modern networking architecture to manage and simplify increasingly complex connectivity needs – particularly those driven by data-intensive, hybrid AI workloads. Greater research and development scale will enable faster innovation across networking silicon, systems, and software. Gives customers access to HPE's full portfolio offering across networking, hybrid cloud, and AI. Networking customers will benefit from HPE innovation across its full portfolio offering – including hybrid cloud, storage, compute, and software – to accelerate and simplify their AI transformations. Capitalizes on HPE's go-to-market scale. The transaction creates revenue growth opportunities, as Juniper offerings benefit from HPE's large, global go-to-market model and team. The combined company will offer secure, AI-native solutions with the ability to collect, analyze, and act on insightful network data across a broader installed base. Attractive financial profile expected to deliver strong value for HPE shareholders. The acquisition of Juniper's high-margin business is expected to be accretive in the near- and long-term for the combined company. The transaction will be accretive to non-GAAP EPS in year 1, post close, with the combined networking business contributing more than 50% of total company operating income. The acquisition was originally announced on January 9, 2024, and was approved by Juniper shareholders on April 2, 2024. With the completion of the transaction, shares of Juniper's common stock, which traded on the NYSE under the symbol 'JNPR,' will cease trading as of today and will no longer be listed on the NYSE. Advisors J.P. Morgan Securities LLC and Qatalyst Partners served as HPE's financial advisors. Committed financing for the transaction was provided by Citigroup Global Markets Inc., JPMorgan Chase Bank, N.A. and Mizuho Bank, Ltd. Wachtell, Lipton, Rosen & Katz, Freshfields Bruckhaus Deringer LLP, and Covington & Burling LLP served as legal counsel. FGS Global served as HPE's strategic communications advisor. Goldman Sachs & Co. LLC served as Juniper's exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom served as legal counsel. About Hewlett Packard Enterprise HPE (NYSE: HPE) is a leader in essential enterprise technology, bringing together the power of AI, cloud, and networking to help organizations achieve more. As pioneers of possibility, our innovation and expertise advance the way people live and work. We empower our customers across industries to optimize operational performance, transform data into foresight, and maximize their impact. Unlock your boldest ambitions with HPE. Discover more at Forward-looking Statements This document contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HPE and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, any statements regarding the ability of HPE to integrate and implement its plans, forecasts and other expectations with respect to Juniper's business after the completion of the transaction, and to realize additional opportunities for growth and innovation as a combined company; any statements regarding the expected strategic, technological, and financial benefits and costs of the transaction contemplated by this document, including enhanced opportunities for growth, the delivery of customer benefits and the realization and timing of synergies and other economic benefits; projections of operational or financial performance; any statements concerning the expected development, performance, addressable market, market share or competitive performance relating to products or services; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the parties are unable to successfully implement integration strategies; potential adverse business uncertainty resulting from the completion of the transaction; and other risks that are described in HPE's SEC reports, including but not limited to the risks described in HPE's Annual Report on Form 10-K for its fiscal year ended October 31, 2024, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and in other filings made by Hewlett Packard Enterprise from time to time filed with the Securities and Exchange Commission. HPE assumes no obligation and does not intend to update these forward-looking statements.
Business Wire
4 days ago
- Business
- Business Wire
HPE and Juniper Networks Reach Settlement With U.S. Department of Justice
HOUSTON & SUNNYVALE, Calif.--(BUSINESS WIRE)--Hewlett Packard Enterprise (NYSE: HPE) and Juniper Networks, Inc. (NYSE: JNPR) today announced they have reached an agreement with the U.S. Department of Justice ('DOJ') that, subject to court approval, resolves the DOJ's lawsuit challenging HPE's acquisition of Juniper and clears the way for the transaction to close. 'Our agreement with the DOJ paves the way to close HPE's acquisition of Juniper Networks and preserves the intended benefits of this deal for our customers and shareholders, while creating greater competition in the global networking market,' said Antonio Neri, president and CEO of HPE. 'For the first time, customers will now have a modern network architecture alternative that can best support the demands of AI workloads. The combination of HPE Aruba Networking and Juniper Networks will provide customers with a comprehensive portfolio of secure, AI-native networking solutions, and accelerate HPE's ability to grow in the AI data center, service provider and cloud segments.' Upon close of the deal, the combined resources of HPE and Juniper are expected to drive faster innovation across networking silicon, systems, and software to meet customers' increasingly complex connectivity needs. This new alternative to legacy incumbent networking solutions positively changes the competitive dynamics in the networking market and provides customers with greater innovation, choice and faster time to value. Combined with the innovation from HPE in hybrid cloud, storage, compute and software, networking customers will now have an even stronger path to accelerate and simplify their AI transformations. 'This marks an exciting step forward in delivering on a critical customer need – a complete portfolio of modern, secure networking solutions to connect their organizations and provide essential foundations for hybrid cloud and AI,' said Juniper Networks CEO Rami Rahim. 'We look forward to closing this transaction and turning our shared vision into reality for enterprise, service provider and cloud customers." On January 9, 2024, HPE announced its agreement to acquire Juniper in an all-cash transaction for $40.00 per share, representing an equity value of approximately $14 billion. The agreement satisfies the Department of Justice's concerns while maintaining the overall value of the transaction to HPE customers, partners, and shareholders. As part of the settlement, HPE has agreed to divest its global Instant On campus and branch business. After close, HPE will facilitate limited access to Juniper's advanced Mist AIOps technology. About HPE HPE (NYSE: HPE) is a leader in essential enterprise technology, bringing together the power of AI, cloud, and networking to help organizations achieve more. As pioneers of possibility, our innovation and expertise advance the way people live and work. We empower our customers across industries to optimize operational performance, transform data into foresight, and maximize their impact. Unlock your boldest ambitions with HPE. Discover more at About Juniper Networks Juniper Networks (NYSE: JNPR) is leading the convergence of AI and networking. Mist™, Juniper's AI-native networking platform is purpose-built to run AI workloads and simplify IT operations, assuring exceptional secure user and application experiences—from the edge, to the data center, to the cloud. Additional information can be found at X, LinkedIn and Facebook. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions and are based on HPE's current expectations, estimates, projections, beliefs and assumptions made by HPE, all of which are subject to change. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond HPE's control, and are not guarantees of future results. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements and you should not place undue reliance on any such statements, and caution must be exercised in relying on forward-looking statements. The words 'believe', 'expect', 'anticipate', "guide", 'optimistic', 'intend', 'aim', 'will', "estimates", 'may', 'could', 'should' and similar expressions are intended to identify such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any statements related to future actions of HPE under the terms of the settlement with the Department of Justice; the completion of the proposed transaction; the ability of HPE to integrate and implement its plans, forecasts and other expectations with respect to Juniper's business after the completion of the proposed transaction and realize additional opportunities for growth and innovation; HPE's ability to implement its business strategies; and expectations of operational and/or financial performance of the combined company. Risks, uncertainties, and assumptions include those that are described in Hewlett Packard Enterprise's Annual Report on Form 10-K for the fiscal year ended October 31, 2024, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and in other filings made by Hewlett Packard Enterprise from time to time with the Securities and Exchange Commission. HPE does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
Time of India
02-05-2025
- Business
- Time of India
Juniper reports rise in quarterly revenue on robust networking gear demand
Juniper Networks reported an 11% rise in first-quarter revenue on Thursday, driven by steady demand from cloud customers for its networking equipment , fueled by the artificial intelligence boom . The Sunnyvale, California-based company posted revenue of $1.28 billion for the quarter ended March 31, in line with analyst forecasts, according to LSEG data. On an adjusted basis, Juniper earned 43 cents per share, also in line with estimates. Companies are investing heavily in upgrading their networking infrastructure to provide advanced services and cater to a growing number of customers, benefiting the likes of Juniper and Cisco Systems. In addition to cloud customers, demand is being "complemented by accelerated enterprise momentum, where we experienced healthy order growth across both campus and data center use cases," said CEO Rami Rahim. "While the tariff environment remains dynamic, we are taking actions which we expect will help mitigate the potential impact of tariffs over time," CFO Ken Miller said. Juniper is in the process of being acquired by Hewlett Packard Enterprise for $14 billion in cash, but the U.S. Department of Justice has sued to block the deal, arguing the deal would reduce competition, raise prices and reduce innovation. In February, Juniper denied the allegations, saying that the complaint does not correctly represent the market dynamics for wireless network solutions.
CNA
01-05-2025
- Business
- CNA
Juniper reports rise in quarterly revenue on robust networking gear demand
Juniper Networks reported an 11 per cent rise in first-quarter revenue on Thursday, driven by steady demand from cloud customers for its networking equipment, fueled by the artificial intelligence boom. The Sunnyvale, California-based company posted revenue of $1.28 billion for the quarter ended March 31, in line with analyst forecasts, according to LSEG data. On an adjusted basis, Juniper earned 43 cents per share, also in line with estimates. Companies are investing heavily in upgrading their networking infrastructure to provide advanced services and cater to a growing number of customers, benefiting the likes of Juniper and Cisco Systems. In addition to cloud customers, demand is being "complemented by accelerated enterprise momentum, where we experienced healthy order growth across both campus and data center use cases," said CEO Rami Rahim. "While the tariff environment remains dynamic, we are taking actions which we expect will help mitigate the potential impact of tariffs over time," CFO Ken Miller said. Juniper is in the process of being acquired by Hewlett Packard Enterprise for $14 billion in cash, but the U.S. Department of Justice has sued to block the deal, arguing the deal would reduce competition, raise prices and reduce innovation. In February, Juniper denied the allegations, saying that the complaint does not correctly represent the market dynamics for wireless network solutions.
Reuters
01-05-2025
- Business
- Reuters
Juniper reports rise in quarterly revenue on robust networking gear demand
May 1 (Reuters) - Juniper Networks (JNPR.N), opens new tab reported an 11% rise in first-quarter revenue on Thursday, driven by steady demand from cloud customers for its networking equipment, fueled by the artificial intelligence boom. The Sunnyvale, California-based company posted revenue of $1.28 billion for the quarter ended March 31, in line with analyst forecasts, according to LSEG data. On an adjusted basis, Juniper earned 43 cents per share, also in line with estimates. Companies are investing heavily in upgrading their networking infrastructure to provide advanced services and cater to a growing number of customers, benefiting the likes of Juniper and Cisco Systems (CSCO.O), opens new tab. In addition to cloud customers, demand is being "complemented by accelerated enterprise momentum, where we experienced healthy order growth across both campus and data center use cases," said CEO Rami Rahim. "While the tariff environment remains dynamic, we are taking actions which we expect will help mitigate the potential impact of tariffs over time," CFO Ken Miller said. Juniper is in the process of being acquired by Hewlett Packard Enterprise (HPE.N), opens new tab for $14 billion in cash, but the U.S. Department of Justice has sued to block the deal, arguing the deal would reduce competition, raise prices and reduce innovation.
