Juniper Networks, a provider of next-generation Internet Protocol (IP) infrastructure systems, has announced a definitive agreement to acquire privately-held Pacific Broadband Communications (Pacific Broadband) of San Jose, California in a stock transaction totalling approximately $200 million.
Pacific Broadband develops standards-based next-generation cable modem termination systems (CMTS).
These systems are said to help cable operators deliver advanced IP services including Voice over IP, high-speed cable modem access and Digital Versatile Disc (DVD)-quality video on demand over the last mile cable infrastructure.
The acquisition has been approved by the board of directors of each company and is subject to various closing conditions including approval under the Hart-Scott-Rodino Antitrust Improvements Act. It is expected to close in the fourth quarter.