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Juniper Networks stock (NYSE:JNPR) soared by a staggering 25% after hours on Monday following a report by The Wall Street Journal that Hewlett Packard Enterprise (HPE) was in advanced negotiations to acquire the networking giant for approximately $13 billion.
HPE experienced a sharp 7.5% decline in postmarket trading.
The acquisition agreement, set to be finalized imminently according to the report, signals a potential game-changer in the industry.
HPE is currently valued at roughly $23 billion, while Juniper stands at just under $10 billion after a 5% decrease over the past year.
The acquisition holds particular significance for HPE due to Juniper’s burgeoning expertise in artificial intelligence through its Mist AI business, which specializes in optimizing wireless access.
