Juniper Networks is acquiring AI-based cloud-managed wireless networks provider Mist Systems for $405 million. The deal will enhance Juniper's enterprise networking portfolio by combining Mist's 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.
Mist has built AI-driven wireless platform, which makes Wi-Fi more predictable, reliable and measurable. Mist has also developed the AI-driven virtual assistant, Marvis, to simplify wireless troubleshooting and provide insight into client and network behavior. In addition, Mist uses virtual Bluetooth LE technology in conjunction with Wi-Fi and IoT to deliver location-based wireless services to customers, such as indoor wayfinding, proximity notifications, traffic analytics and asset tracking.
The acquisition will expand Juniper's presence in the cloud-managed segment of the wireless networking market. Further, the deal enables Juniper to extend cloud-based management and end-to-end AI-driven visibility across the end-to-end enterprise network.
“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.”
“Mist Systems has developed a unique blend of wireless, AI and cloud expertise that has enabled us to stand out from the competition and bring much needed innovation to the wireless space,” said Sujai Hajela, CEO of Mist Systems.
“By combining these proficiencies with Juniper's expansive channel reach, world-class support and best-in-class networking and security products, we believe we will be well poised to change the IT landscape by ushering in a new generation of AI-driven products,” said Hajela.
“The joint Mist and Juniper solution delivers excellent visibility into the entire wired/wireless stack and uniquely leverages AI for proactive automation, making it a perfect fit for our campus environment,” said Mitch Davis, Vice President and CIO at Dartmouth College.
“I am excited to see these two best-of-breed solutions tightly aligned and I look forward to seeing even more integration and innovation going forward, as it is key to our mission of delivering world-class IT experiences to our students, faculty, staff and guests,” said Davis.
