Juniper Networks(NYSE: JNPR) announced that the company has acquired Mist Systems, provider of cloud-managed wireless networks powered by Artificial Intelligence (AI). The deal will combine Mist’s next-generation Wireless LAN (WLAN) platform with Juniper’s wired LAN, SD-WAN and security solutions.
Under the terms of the agreement, Juniper Networks will acquire Mist for aggregate consideration of $405 million, subject to adjustment, payable in cash and the assumption of outstanding equity awards. The proposed acquisition is expected to close in Juniper Networks’ fiscal second quarter, subject to regulatory approvals and customary closing conditions.
Mist has built the world’s first AI-driven wireless platform and an AI-driven virtual assistant, Marvis, to simplify wireless troubleshooting and provide insight into client and network behavior. In addition, Mist uses patented virtual Bluetooth® LE technology in conjunction with Wi-Fi and IoT to deliver scalable and cost-effective location-based wireless services to customers, such as indoor wayfinding, proximity notifications, traffic analytics and asset tracking. All operations are managed via Mist’s modern cloud microservices architecture for maximum scalability, agility and performance.
“Mist Systems is a great fit for Juniper and for our enterprise customers,” explained Rami Rahim, CEO of Juniper Networks. “Juniper and Mist share a common strategic goal. We believe in the Software-Defined Enterprise and Mist’s focus on bringing AI to IT is consistent with our core belief that we need to simplify operations and improve customer experience while lowering costs. With Mist, we are adding a market leading solution to complement our portfolio, drive the cloud transition within the enterprise and accelerate our enterprise growth.”