WASHINGTON (dpa-AFX) - Juniper Networks (JNPR) said that it agreed to buy 128 Technology for $450 million payable in cash and the assumption of outstanding equity awards.
The company expects to close the deal in its fourth quarter.
In fiscal year 2021, the transaction is expected to be slightly accretive to revenue and gross margins, but dilutive to Non-GAAP earnings per share. In fiscal year 2022, the transaction is expected to be accretive to Non-GAAP earnings per share.
Juniper noted that it will integrate 128 Technology with its AI-Driven Enterprise business unit, which includes wired and wireless access and SD-WAN, all driven by Mist AI.
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