January 7, 2013
As Juniper Inc. is presently in an expansion mode, it raised a total of $ 101.7 million in an all equity round of financing. No less than 27 investors were part of the investment but not all of the named in the filling. The representatives from Jupiter did not respond to the request for a comment to this matter.
The offering was completed on 14th of December and the deal was related to a merger, exchange offer or acquisition.
The company wishes to come up with advanced products and thus is in need for new funds to expand the operations. The products will allow service providers to deliver fast and expand new business and consumer services. The company will purchase software based networking start up Contrail Systems in value of $ 176 million. The procurement will help the company to deal with competition like Cisco Systems Inc. The new acquisition will sustain technological developments.
A big part of the funds will be used to tap the potential of the computing segment.
Juniper has a well position in the networking space and can take advantage of the spending on information tech.