Juniper Networks to acquire Siemens networks subsidiary

Juniper Networks has signed a definitive agreement to acquire Unisphere Networks, a Siemens company, in a combined $375 million cash and 36.5 million share stock transaction.

Siemens and Juniper Networks have also agreed to enter a global partnership in the field of IP infrastructure and related systems.

Based upon Juniper Networks closing stock price of $9.85 on May 17, 2002, the deal has an approximate value of $740 million.

The acquisition, slated to close in the third quarter of calendar year 2002, is subject to all required Board approvals, to Hart-Scott-Rodino approval, and certain other customary closing conditions.

It is expected to be slightly dilutive to Juniper Networks in 2002 and accretive in 2003.

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