Juniper Aims to Buy Pacific Broadband
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SUNNYVALE, Calif. — Juniper Networks Inc., the second-largest maker of equipment for Internet traffic, said Monday that it agreed to pay about $200 million in stock for closely held Pacific Broadband Communications.
The purchase of San Jose-based Pacific Broadband will provide Juniper with equipment used by high-speed Internet service providers to handle Internet traffic that arrives through cable-TV lines.
Juniper expects to complete the acquisition, which must be approved by antitrust regulators by the end of the year.
Juniper shares rose 55 cents to $23.99 on Nasdaq. The purchase was announced after the close of regular trading.
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