Nov 13, 2001 : Juniper to Acquire Pacific Broadband
📅 - Juniper Networks, Inc. (juniper.net), a provider of InternetProtocol infrastructure systems, announced yesterday a definitive agreementto acquire privately-held Pacific Broadband Communications(pacificbroadband.com) 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-quality video on demand over the last mile cable infrastructure.
"The cable industry stands to benefit greatly from the combined expertise ofJuniper Networks and Pacific Broadband Communications," said Tony Werner,chief technical officer, Liberty Media Corporation. "As the cable industrycontinues to evolve as a provider of tomorrow's broadband services to bothbusiness and residential subscribers, its multiple system operators mustcontinually increase performance with innovative IP networking solutions."
The acquisition has been approved by the board of directors of each companyand is subject to various closing conditions including approval under theHart-Scott-Rodino Antitrust Improvements Act. It is expected to close in thefourth quarter.
Scott Kriens, chairman, president and CEO, Juniper Networks and Alok Sharma,president and CEO of Pacific Broadband Communications, will host a jointconference call Webcast on Monday, Nov. 13th at 1:30 pm PST. The Webcastwill be available at: http://www.juniper.net/us/en/us/en/conferencecall. The dial-in number is 212-896-6105. A replay of the conference call will be available through Nov. 19th on 800-633-8284 or 858-812-6440 for international callers. The reservation number is 19989751.
"The cable industry stands to benefit greatly from the combined expertise ofJuniper Networks and Pacific Broadband Communications," said Tony Werner,chief technical officer, Liberty Media Corporation. "As the cable industrycontinues to evolve as a provider of tomorrow's broadband services to bothbusiness and residential subscribers, its multiple system operators mustcontinually increase performance with innovative IP networking solutions."
The acquisition has been approved by the board of directors of each companyand is subject to various closing conditions including approval under theHart-Scott-Rodino Antitrust Improvements Act. It is expected to close in thefourth quarter.
Scott Kriens, chairman, president and CEO, Juniper Networks and Alok Sharma,president and CEO of Pacific Broadband Communications, will host a jointconference call Webcast on Monday, Nov. 13th at 1:30 pm PST. The Webcastwill be available at: http://www.juniper.net/us/en/us/en/conferencecall. The dial-in number is 212-896-6105. A replay of the conference call will be available through Nov. 19th on 800-633-8284 or 858-812-6440 for international callers. The reservation number is 19989751.
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