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Wednesday, February 21, 2024

Hewlett Packard Enterprise To Buy Juniper Networks For $14 Billion

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Hewlett Packard Enterprise (HPE) will buy Juniper Networks (JNPR) for $14 billion, the companies announced Tuesday night. HPE stock and Juniper edged higher, after big moves on reports that a deal was close.

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Cloud-services provider HP Enterprise will pay $40 a share cash for Juniper Networks, the Spring, Texas-based company said in a release. The deal has an equity value of $14 billion.

The Wall Street Journal reported Monday night that HPE and Juniper were in late-stage talks.

HPE said the deal will double its networking business and accelerate AI-driven innovation. In a statement, Chief Executive Antonio Neri called the acquisition “an important inflection point in the industry” that “will change the dynamics in the networking market and provide customers and partners with a new alternative that meets their toughest demands.”

Additionally, the transaction aims to boost HPE’s position in an enterprise technology market where AI has become a key focus.

“This transaction will strengthen HPE’s position at the nexus of accelerating macro-AI trends, expand our total addressable market, and drive further innovation for customers as we help bridge the AI-native and cloud-native worlds,” Neri said.

Further, HPE said it expects the deal will boost non-GAAP earnings per share and free cash flow in the first year after closing.

HPE Stock

HPE stock and JNPR stock both rose a fraction early Wednesday.

In Tuesday’s session, HPE dived 8.9% to 16.14, tumbling below a 17.29 buy point. JNPR stock soared nearly 22% to 36.81, the highest since a long-term peak of 38.14 in March 2022.

Please follow Ed Carson on X/Twitter at @IBD_ECarson, Threads at @edcarson1971 and Bluesky at @edcarson.bsky.social for stock market updates and more.

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