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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Acquisitions»Hewlett Packard Enterprise (HPE) to acquire Juniper Networks for $14 billion

    Hewlett Packard Enterprise (HPE) to acquire Juniper Networks for $14 billion

    1
    By Tapiwa Matthew Mutisi on January 10, 2024 Acquisitions, Artificial Intelligence, Business, Deals, Investments, News, Technology

    Hewlett Packard Enterprise (HPE) has announced plans to acquire networking equipment provider Juniper Networks in an all-cash deal worth approximately $14 billion, or $40 per share. HPE anticipates the deal will close in late 2024 or early 2025.

    The announcement was made after the Wall Street Journal reported that the companies were in advanced negotiations. This news led to a 22% surge in Juniper’s share price, its best performance in 20 years. The purchase price represents a 32% premium over Monday’s closing price before the Wall Street Journal report.

    HPE stated the acquisition would positively impact its adjusted earnings per share in the first year following the deal’s completion and would double its existing networking business. Juniper CEO Rami Rahim would head the combined entity, reporting to HPE’s CEO, Antonio Neri.

    HPE went into the networking business when it purchased Aruba Networks in 2015. A few months later, HP split into two entities: HPE, which sells servers and other data center equipment, and HP Inc., which sells PCs and printers.

    Juniper was founded in 1996 and has spent many years competing with Cisco in the networking gear market. In 2022, its revenue grew by 12%, marking its fastest growth since 2010.

    HPE estimates that merging with Juniper could result in $450 million in annual cost savings within three years of the deal’s close. The companies plan to discuss the merger in a conference call scheduled for on Wednesday. JPMorgan and Qatalyst served as advisors for HPE.

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    Acquisition AI artificial intelligence (AI) Business deals HPE Investments JPMorgan Juniper Networks Qatalyst Technology
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    Tapiwa Matthew Mutisi
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    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 4,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

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