AT&T Ventures Invests in Juniper's Internet Backbone Technology Development; Brings Total Investment in Juniper to $62 Million
02:07 p.m Dec 05, 1997 Eastern
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Dec. 5, 1997-- Juniper
Networks, Inc., today announced that AT&T Ventures has invested in Juniper
Networks.
AT&T Ventures joins a premiere team of communications
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
Corporation, 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.
"The Internet is full of promise for bringing people a wide range of smart,
multimedia communications services," said David C. Nagel, AT&T Labs president
and AT&T's chief technology officer. "But all too often to an actual user, the
performance of the Internet falls short of that promise. AT&T is eager to
encourage innovations that will give the Internet greater reliability and scalablility
than it now offers, and Juniper Networks has products that address these very
issues. AT&T Ventures allows us to invest in startups like Juniper who have
innovative technology that can be of value in future communications services."
"Juniper is very pleased to be affiliated with service providers of the caliber of
AT&T. Juniper is taking advantage of a fundamental inflection point, in which the
growth of fiber optic bandwidth demands new approaches to constructing the
Internet core. Legitimate backbone solutions for this space must meet the rigorous
standards of quality and network availability on which AT&T has built its
reputation. Juniper, as an entrant to this burgeoning market, is uniquely focused on
both the Internet and the systems experience necessary to meet this challenge,"
said Scott Kriens, chairman and CEO of Juniper.
AT&T Corp. serves more than 90 million consumers, business and government
customers with the world's largest, most sophisticated communications network and
is the leading provider of long-distance data transport and wireless services. The
company also offers Internet and electronic commerce services, and provides
outsourcing, consulting, systems-integration and customer-care services to large
businesses. AT&T Ventures invests in information technology and service-enabling
companies in emerging growth markets, and helps portfolio companies explore
synergies with AT&T.
Juniper Networks, based in Mountain View, California, 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. (See also: businesswire.com)
This is now BIG TIME with BIG BUCK$
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