Juniper's $4B buy signals security push

Monday, 9 February 2004, 8:53 PM EST

In a blockbuster telecom equipment deal underlining the growing importance of network security, Juniper Networks will buy NetScreen Technologies for $4 billion in stock.

Under the deal, expected to close in the second quarter, Juniper will exchange 1.404 shares of its stock for each share of Juniper. The companies' directors have approved the merger; shareholders and regulators must now sign off.

"We're only going to do what we've already been doing and do it better," Scott Kriens, Juniper's chairman and CEO said in a conference call with analysts.

By Colin Haley at InternetNews.com

[ Read more ]

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