Juniper Networks has 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.
Under the terms of the agreement, Juniper Networks will acquire Mist for aggregate consideration of $405 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 has developed a unique blend of wireless, AI and cloud expertise that has enabled us to stand out from the competition and bring much needed innovation to the wireless space. By combining these proficiencies with Juniper’s expansive channel reach, world-class support and best-in-class networking and security products, we believe we will be well poised to change the IT landscape by ushering in a new generation of AI-driven products,” said Sujai Hajela, CEO of Mist Systems.
