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8-K - FORM 8-K - BELDEN INC. | c61391e8vk.htm |
EX-99.2 - EX-99.2 - BELDEN INC. | c61391exv99w2.htm |
Exhibit 99.1
Juniper Media Relations: |
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Cindy Ta
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Stephen Stokes | |
(408) 936-6131
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(469) 375-0326 | |
cta@juniper.net
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sstokes@webershandwick.com | |
Juniper Investor Relations:
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Belden Investor Relations: | |
Kathleen Bela
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(314) 854-8054 | |
(408) 936-7804
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Investor.Relations@belden.com | |
kbela@juniper.net |
Juniper Networks Announces Definitive Agreement to Acquire Trapeze Networks
Adds Leading Mobility Solutions to Advance Junipers Vision for the New Network
SUNNYVALE, Calif. and ST. LOUIS, Nov. 16, 2010 Juniper Networks (NYSE: JNPR) and Belden Inc.
(NYSE: BDC) today announced they have entered into a definitive agreement under which Juniper will
acquire Trapeze Networks, a technology leader in enterprise wireless local area network (WLAN)
systems and management software, in an all cash transaction valued at approximately $152 million.
The acquisition is anticipated to close in the fourth quarter of 2010, subject to the satisfaction
of customary closing conditions and applicable regulatory reviews.
The acquisition will make WLAN infrastructure a key part of Junipers portfolio, accelerating the
companys growth in the enterprise market and advancing its vision for the new network. Trapeze
Networks provides the highest levels of WLAN reliability, performance, security and management for
todays most demanding mobile applications. The companys innovative WLAN technology is highly
complementary to Junipers campus and branch switching, routing and security business. Customers
will be able to build new networks based on Junipers end-to-end routing, security, wired and
wireless switching infrastructure that improve users experience and increase their productivity
regardless of location, while delivering lowest total cost of ownership.
Todays increasingly converged networks demand that network connectivity be available anytime and
anywhere for users. The explosion of mobile devices is further fueling the unprecedented need for
connectivity, regardless of location or device. A recent report1 by DellOro Group
estimates that the enterprise WLAN technology market will grow from $2.2 billion in 2010 to $3.4
billion in 2014. As the fastest growing Ethernet switching provider in 2010 to date,2
Juniper now adds Trapezes WLAN products to Junipers routing, security and switching portfolio,
and will be well positioned to deliver the most scalable, secure and highly-available wired and
wireless infrastructure for the enterprise market.
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, said David Yen, executive vice president and general manager, Fabric and
Switching Technologies at Juniper Networks. Junipers strong history of technology execution
combined with Trapezes accomplished team ideally positions the
Juniper Networks Announces Definitive Agreement to Acquire Trapeze Networks
company to deliver end-to-end
high-performance networking for the worlds most demanding networks.
Trapeze Networks currently holds 17 awarded patents more than any other WLAN provider with 49
more patent filings pending. Trapeze has developed an innovative architecture called Smart Mobile®
WLAN solution combining the advantages of both centralized and distributed approaches to networking
or intelligent switching. This architecture allows organizations to adopt high-performance
802.11n networks, deliver high-quality voice for hundreds of users, and scale their WLANs across
the enterprise indoors and outdoors without compromising security or manageability. More than 6,000
customers have invested in mobility infrastructure based on the Trapeze Smart Mobile WLAN solution.
Trapeze Networks products include Mobility System® Software, a full line of Mobility Exchange®
controllers, Mobility Point® access points, an advanced access control product, SmartPass®, the
RingMaster® wireless management suite, antennas and accessories, and location-based software and
appliances.
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, said John Stroup, president
and CEO of Belden Inc. 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 plans to outline the financial impact of the transaction to Belden in a Form 8-K filed with
the Securities and Exchange Commission today.
For more information about todays news, please refer to the following resources:
§ | The Network Ahead blog www.juniper.net/networkahead | ||
§ | Juniper.Net Community www.juniper.net/community | ||
§ | Junipers Social Channels www.juniper.net/social |
1) | DellOro Group, Wireless LAN 5-Year Forecasts 2010-2014, July 2010. | |
2) | DellOro Group Vendor Tables 2Q10 Worldwide Ethernet Switch Report. |
About Trapeze Networks
Trapeze Networks, a Belden brand, provides wireless LAN (WLAN) solutions with a focus on unmatched
reliability, specializing in industries where always-on connectivity is a business-critical concern
such as healthcare, education, manufacturing and hospitality. As part of Smart Mobile®, its highly
distributed edge-networking architecture, Trapeze Networks has pioneered technologies that deliver
unprecedented session-level reliability, such as controller virtualization. Trapeze Networks WLANs
have been deployed in leading corporations and organizations worldwide, and include some of the
largest WLAN deployments to date. More information on: http://trapezenetworks.com.
About Belden
St. Louis-based Belden Inc. designs, manufactures, and markets cable, connectivity, and networking
products in markets including industrial automation, enterprise, transportation, infrastructure,
and consumer electronics. It has approximately 6,500 employees, and provides value for industrial
automation, enterprise, education, healthcare, entertainment and broadcast,
Juniper Networks Announces Definitive Agreement to Acquire Trapeze Networks
sound and security,
transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing
capabilities in North America, Europe, and Asia, and a market presence in nearly every region of
the world. Belden was founded in 1902, and today is a leader with some of the strongest brands in
the signal transmission industry. For more information, visit www.belden.com.
About Juniper Networks
Juniper Networks is in the business of network innovation. From devices to data centers, from
consumers to cloud providers, Juniper Networks delivers the software, silicon and systems that
transform the experience and economics of networking. The company serves customers and partners
worldwide, generating revenues exceeding $3 billion over the last year. Additional information can
be found at Juniper Networks (www.juniper.net).
Juniper Networks and Junos are registered trademarks of Juniper Networks, Inc. in the United
States and other countries. The Juniper Networks and Junos logos are trademarks of Juniper
Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service
marks are the property of their respective owners.
Statements in this release concerning Juniper Networks business outlook, future financial
results, future product features and performance and overall future prospects, including but not
limited to, the completion of the acquisition of Trapeze Networks and the possible effect of the
acquisition on Juniper Networks product portfolio, business and financial results, are forward
looking statements that involve a number of uncertainties and risks. Actual results could differ
materially from those anticipated in those forward-looking statements as a result of certain
factors, including: the ability to successfully acquire, integrate and manage Trapezes business
and technologies; general economic conditions globally or regionally; business and economic
conditions in the networking industry; the network requirements of enterprises; increases in and
the effect of competition; customer and industry analyst perceptions of Juniper Networks and its
technology, products and future prospects; delays in scheduled product availability; market
acceptance of Juniper Networks products and services; rapid technological and market change;
product defects, returns or vulnerabilities; the ability to retain key personnel; and other factors
listed in our most recent report on Form 10-Q filed with the Securities and Exchange Commission.
All statements made in this press release are made only as of the date set forth at the beginning
of this release. Juniper Networks undertakes no obligation to update the information in this
release in the event facts or circumstances subsequently change after the date of this press
release.
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