CCI Nods HP Enterprise-Juniper Networks deal By CIOTechOutlook Team

CCI Nods HP Enterprise-Juniper Networks deal

CIOTechOutlook Team | Friday, 16 August 2024, 02:35 IST

CCI approved the proposal for US company Hewlett Packard Enterprise to acquire Juniper Networks, Inc. HPE specializes in business IT, providing infrastructure products, software for IT operations, and cloud services.

"The proposed combination pertains to the acquisition by Hewlett Packard Enterprise Company (HPE) of 100 per cent of the outstanding shares of, and sole control over, Juniper Networks, Inc.

"The proposed combination is to be carried out by way of a reverse triangular merger through which Jasmine Acquisition Sub, Inc. (a wholly-owned subsidiary of HPE) will merge with and into Juniper, such that Juniper will be the surviving entity and will become a wholly-owned subsidiary of HPE," CCI said in a release.

Juniper is a global company that specializes in networking technology and offers a variety of solutions (both hardware and software) in networking, infrastructure, security, and other related fields to clients in various industries. It creates, builds, and markets networking items and services like routing, switching, wireless, network security, and related services.

The deal has been approved by the Competition Commission of India (CCI). Earlier this year, HPE and Juniper Networks disclosed an agreement where HPE will purchase Juniper for around USD 14 billion in cash.

Deals above a specific limit must be authorized by the regulatory body, which monitors unethical business behaviors and encourages equitable competition in the market.