CCI Approves Hewlett Packard Enterprise's Acquisition Of Juniper Networks
Juniper designs, develops and sells networking products and services including routing, switching, wireless, network security and associated services.
The Competition Commission of India approved on Wednesday the proposal by the US-based Hewlett Packard Enterprise Company to acquire Juniper Networks, Inc.
Hewlett Packard Enterprise specialises in business information technology, providing infrastructure products that support customer IT systems, software to automate and simplify IT operations, and cloud solutions as a service.
"The proposed combination pertains to the acquisition by Hewlett Packard Enterprise Company of 100% 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 multinational networking technology company which provides networking, infrastructure, security, and other related solutions (hardware and software) to customers in multiple industries.
It designs, develops and sells networking products and services including routing, switching, wireless, network security and associated services.
The Competition Commission of India has approved the transaction. Earlier this year, HPE and Juniper Networks entered into a definitive agreement whereby HPE will acquire Juniper through an all-cash transaction valued at roughly $14 billion. Transactions exceeding specific thresholds necessitate regulatory approval to monitor for unfair business practices and to ensure fair competition in the market.
(With PTI Inputs)
