Juniper Networks Announces Intent to Acquire Pacific Broadband Communications
Extends IP Expertise to Multimedia-Ready Open Access Solutions for Cable Operators
SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 12, 2001--Juniper Networks, Inc. (Nasdaq: JNPR - news), a leading provider of next-generation Internet Protocol (IP) infrastructure systems, today announced a definitive agreement to acquire privately-held Pacific Broadband Communications (Pacific Broadband) of San Jose, California in a stock transaction totaling approximately $200 million. Pacific Broadband develops standards-based next-generation cable modem termination systems (CMTS). These systems 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 cable industry stands to benefit greatly from the combined expertise of Juniper Networks and Pacific Broadband Communications,'' said Tony Werner, chief technical officer, Liberty Media Corporation. ``As the cable industry continues to evolve as a provider of tomorrow's broadband services to both business and residential subscribers, its multiple system operators must continually increase performance with innovative IP networking solutions.''
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.
Scott Kriens, chairman, president and CEO, Juniper Networks and Alok Sharma, president and CEO of Pacific Broadband Communications, will host a joint conference call Webcast on Monday, November 12th at 1:30 pm PST. The Webcast will be available at: juniper.net. The dial-in number is: 212-896-6105.
A replay of the conference call will be available through November 19th on: 800-633-8284 or 858-812-6440 for international callers. The reservation number is: 19989751.
About Pacific Broadband Communications
Pacific Broadband Communications is a developer of ultra dense, high performance and highly noise immune broadband solutions that enable service providers to deliver standards-based data, telephony, and video over last mile networks. The company's management and engineering teams bring years of experience in networking and telecommunications from companies such as ADC, Alcatel, AT&T Labs, Cisco, Excite@Home, and Motorola. Its flagship product, the Kodiak(TM) G10 CMTS, is distributed exclusively by Scientific-Atlanta in North America. More information can be found at www.pacificbroadband.com.
About Juniper Networks, Inc.
Juniper Networks, Inc. is a leading provider of purpose-built systems that meet the scalability, performance, density, and compatibility requirements of rapidly evolving, optically enabled IP networks. The company's systems provide new IP infrastructure solutions for the world's leading service providers. Juniper Networks service, manufacturing, and IP engineering teams work closely with customers to build and support customer networks. The company is headquartered in Sunnyvale, California. For more information, please visit the Web site at juniper.net.
Juniper Networks is registered in the U.S. Patent and Trademark Office and in other countries as a trademark of Juniper Networks, Inc. Internet Processor, Internet Processor II, JUNOS, JUNOScript, M5, M10, M20, M40, and M160 are trademarks of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.
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Contact:
Juniper Networks, Inc.
Kathy Durr, 408/745-5058 (PR Manager)
kdurr@juniper.net
Randi Paikoff Feigin, 408/745-2371 (Director of IR)
randi@juniper.net
OR
Pacific Broadband Communications
Jill Ullman, 678/461-0916 (PR Manager)
or Cell: 404/664-6053 (Nov. 12-13)
jill@pbc.com
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