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The Anschutz Family Investment Company LLC Invests $2.5 Million in Juniper Networks; Companies To Define and Test High Performance IP Network Platforms
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Dec. 4, 1997--The Anschutz Family Investment Company LLC (Anschutz) and Juniper Networks, Inc. today announced an equity investment of $2.5 million by Anschutz in Juniper Networks.
The investment by Anschutz will be used to help define and test Juniper's next generation IP networking product family. The Juniper investment joins other investments by Anschutz in technology companies including a majority stake in Qwest Communications International Inc.
"At Qwest, we're deploying OC-192 technology to transport high capacity data traffic," said Joseph P. Nacchio, president and CEO of Qwest Communications. "It's encouraging to see companies, like Juniper, accelerating the development of router technology that can originate and terminate this traffic at the highest possible speeds."
"We are very pleased to have their investment and support and the opportunity to coordinate our vision," said Scott Kriens, president and CEO of Juniper Networks. "This relationship will give Juniper the opportunity to highlight our breakthrough technology against a backdrop of leading edge performance and connectivity."
The information users present to their carriers from voice, data and video terminal equipment is increasingly being formatted through the Internet Protocol (IP). This IP-based traffic must be sorted by its priority, source, and destination, catalogued for billing and administrative purposes, and finally presented at gigabit speeds to the fiber optic transport facility.
Juniper Networks is pioneering new standards of integration and performance in developing the equipment necessary to originate and terminate traffic that is transported at the highest speeds available on networks today.
The growth of the Internet and its demand for high bandwidth applications continues unabated. This demand is presenting the public networking industry with new requirements for service and technical support.
The ability of the Internet network model to expand and become the destination for voice, data, and video traffic will push networking to the limits of current products and beyond. These new standards require constant attention to emerging technology, and close relationships between equipment and service providers.
Anschutz joins a premier team of companies that have invested in Juniper Networks. Last August, Juniper announced that the company had received $40 million in equity financing from Ericsson Inc., Lucent Technologies, Nortel (Northern Telecom), the Siemens/Newbridge alliance, 3Com Corp., and Worldcom Inc.'s subsidiary, UUNET Technologies, Inc.
With the latest investment and prior venture financing, this brings the total investment in Juniper Networks to $62 million. Last month, Juniper also announced a strategic technology relationship with IBM.
About Juniper Networks
Juniper Networks, based in Mountain View, Calif., was founded in February 1996, to design, develop and deliver integrated hardware and software solutions for the Internet that address the scalability, performance and quality issues of continuous and explosive growth.
About Anschutz Family Investment Company LLC
Anschutz Family Investment Company LLC is part of the Anschutz group of companies, which is also the primary shareholder in Qwest Communications International Inc. Qwest (NASDAQ:QWST) is a multimedia communications company building a high capacity, fiber optic network for the 21st century.
Qwest's planned domestic network will connect 125 cities, which represent approximately 80 percent of the data and voice traffic originating in the United States, upon its completion in the second quarter of 1999. Currently, 3,100 miles are activated from Los Angeles to St. Louis and from Dallas to Houston. Qwest is also extending its network 1,400 miles into Mexico with completion slated for late third quarter 1998.
CONTACT: Qwest Communications (For the Anschutz Co.)
Lisa Hempel, 303/291-1708
lhempel@qwest.net
or
Stirling & Karbo Inc. (For Juniper)
Cynthia Stirling, 415/513-0972
cstirling@skco.com |
