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November 15, 1999

Completes Acquisition of Layer Five and Investment in New Access Communications

Mountain View, CA - November 15, 1999 — Juniper Networks, Inc. today announced a definitive agreement to acquire privately-held Layer Five of Palo Alto, CA. Layer Five, founded in 1997, is a sophisticated group of advanced developers of network hardware architecture and related software. Its employees will become part of the Juniper Networks engineering organization.

Under the terms of agreement with Layer Five, Juniper Networks common stock and cash worth approximately $19 million will be exchanged for all outstanding shares of Layer Five. Juniper Networks expects a charge of approximately $1.6 million per quarter, on an ongoing basis, for goodwill associated with the acquisition.

Separately, Juniper Networks has taken a minority investment in New Access Communications (www.new-access.com) of San Jose, California, whose optical distribution technology targets Network Service Providers. Pradeep Sindhu, CTO and founder of Juniper Networks, has joined the New Access Communications board of directors.

About Juniper Networks, Inc.

Juniper Networks, Inc., is a leading provider of next-generation Internet infrastructure systems that are designed to meet the scalability, performance, density, and compatibility requirements of rapidly evolving, optically-enabled IP networks. The company's purpose-built M40 Internet backbone router uses JUNOS software, ASICs, and wire-rate performance to provide new Internet infrastructure solutions for service providers. The M40 router is used by some of the world's leading service providers.

Juniper Networks service, manufacturing teams, and Internet engineers support the M40 router. The company is headquartered in Sunnyvale, California*, with international offices in London, UK, Tokyo, Japan and Amsterdam, The Netherlands. For more information on Juniper Networks, please contact the company at 408-745-2000 or visit the Web site at http://www.juniper.net.

Juniper Networks is a registered trademark of Juniper Networks, Inc. JUNOS and M40 are trademarks of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks may be the property of their respective owners.

 

Susan Ursch
Juniper Networks
Phone: 978-589-0124
sursch@juniper.net




 

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