Juniper Networks agreed to acquire to NetScreen Technologies in a stock for stock merger valued at approximately $4 billion based on closing stock prices for 06-Feb-2004. NetScreen is a provider of network security and access solutions for enterprises and carriers. Its high-performance platforms provide multiple layers of network and application-level protection. The deal requires approval by the stockholders of both companies and by regulatory authorities. Both companies are based in Sunnyvale, California.
Scott Kriens, chairman and CEO of Juniper Networks, said "'This is a combination of two strong companies.... our collective customers have told us security, reliability and performance are mission critical to their network users."
For its most recent fiscal quarter ended 31-Dec-2003, Netscreen reported record revenues of $81.0 million, an increase of 59% over revenue of $51.1 million in the same quarter last year and an increase of 13% over revenue of $71.6 million in the quarter ended 30-September-2003. Net income (GAAP) was $6.4 million, or $0.07 per basic and diluted share. During the quarter, NetScreen completed its own acquisition of Neoteris, a leading supplier of SSL VPN products. http://www.juniper.nethttp://www.netscreen.com
- For comparison, Juniper Networks' acquisition of Unisphere Networks (then a division of Siemens) in was valued at $740 million when it was announced in May 2002. The deal consisted of US$375 million in cash and 36.5 million JNPR shares.
