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Juniper Networks announced that the company has entered into a definitive agreement to acquire Mist Systems, a provider of cloud-managed wireless networks powered by Artificial Intelligence (AI).
Under the terms of the agreement, Juniper Networks will acquire Mist for aggregate consideration of $405 million, subject to adjustment, payable in cash and the assumption of outstanding equity awards. The proposed acquisition is expected to close in Juniper Networks’ fiscal second quarter.
Mist has built the world’s first AI-driven wireless platform, which makes Wi-Fi more predictable, reliable and measurable.
Mist has also developed the networking industry’s only AI-driven virtual assistant, Marvis, to simplify wireless troubleshooting and provide unprecedented insight into client and network behavior.
Mist has already acquired a clients across numerous industries, including two of the Fortune 10, seven of the top 40 retailers, the flagship facility at the US’s largest healthcare system, one of the top mobile carriers and one of the world’s largest airlines.
“Mist Systems is a great fit for Juniper and for our enterprise customers,” explained Rami Rahim, CEO of Juniper Networks. “Juniper and Mist share a common strategic goal. We believe in the Software-Defined Enterprise and Mist’s focus on bringing AI to IT is consistent with our core belief that we need to simplify operations and improve customer experience while lowering costs. With Mist, we are adding a market leading solution to complement our portfolio, drive the cloud transition within the enterprise and accelerate our enterprise growth.”
“Mist Systems has developed a unique blend of wireless, AI and cloud expertise that has enabled us to stand out from the competition and bring much needed innovation to the wireless space,” said Sujai Hajela, CEO of Mist Systems. “By combining these proficiencies with Juniper’s expansive channel reach, world-class support and best-in-class networking and security products, we believe we will be well poised to change the IT landscape by ushering in a new generation of AI-driven products.”
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