Hewlett Packard Enterprise (HPE) Wednesday said it has completed the acquisition of Juniper Networks, Inc., a provider of network products and services, announced in January last year.
The transaction is expected to add to adjusted earnings in the first year after closing.
The acquisition, which doubles the size of HPE's networking business, provides customers with cloud-native and AI-driven IT portfolio, including a full, modern networking stack. It also facilitates the company's portfolio mix shift to higher-margin, higher-growth sectors to achieve long-term profitable revenue growth.
"Today begins a new era for HPE - we are now at the epicenter of the transformation of IT, where AI and networking are converging," said Antonio Neri, president and CEO of HPE. "In addition to positioning HPE to offer our customers a modern network architecture alternative and an even more differentiated and complete portfolio across hybrid cloud, AI, and networking, this combination accelerates our profitable growth strategy as we deepen our customer relevance and expand our total addressable market into attractive adjacent areas."
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