Internet network infrastructure provider Juniper Networks, Inc. (JNPR) announced Tuesday that it has agreed to acquire Trapeze Networks from signal transmission solutions provider Belden, Inc. (BDC) for about $152 million in an all cash deal. The acquisition is expected to close in the fourth quarter of fiscal 2010.
"With the acquisition of Trapeze Networks, we extend our industry leading routing, security and switching portfolio with proven and innovative WLAN technology that will enable our customers to provide a seamless, high-quality, secure experience to their users regardless of where and how they access their network," Juniper's David Yen said inn a statement.
Pleasanton, California-based Trapeze Networks is a Belden brand that provides wireless LAN solutions, including equipment and network management software, to connectivity-critical business concerns such as healthcare, education, manufacturing and hospitality. Privately-held Trapeze was acquired by Belden Inc. in July 2008 for about $133 million in cash.
The proposed acquisition will make wireless LAN a key part of Sunnyvale, California-based Juniper's portfolio and add leading mobility solutions to advance Juniper's growth in the enterprise market and vision for the new network.
Juniper noted that Trapeze's wireless LAN technology is highly complementary to its campus and branch switching, routing and security business. Juniper will now be able to deliver the most scalable, secure and highly-available wired and wireless infrastructure for the enterprise market. According to a recent report by Dell'Oro Group, the enterprise wireless LAN technology market is estimated to grow to $3.4 billion in 2014 from $2.2 billion in 2010.
"As the leader in high-performance networking, Juniper represents the ideal provider for us to unlock the value of Trapeze Networks in the global enterprise market. This agreement enables our organization to remain focused on the long-term growth opportunities for wireless technology in our core markets, including the nascent industrial networking market," Belden President and CEO John Stroup noted.
In Tuesday's regular trading session, JNPR is currently trading at $34.10, down $0.24 or 0.70% on a volume of 6,340 shares, and BDC is currently trading at $30.25, down $0.35 or 1.14% on a volume of 4,000 shares.
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