Hewlett Packard Enterprise is in talks to buy Juniper Networks in a deal valuing the network gear maker at about US$13-billion, a person familiar with the matter told Reuters on Monday.
A deal between the two companies could be announced as early as this week, the source said. Shares of Hewlett Packard fell 7.7%, while Juniper jumped 21% in extended trading.
The deal would help bolster the nearly 100-year-old technology company’s artificial intelligence offerings, according to a Wall Street Journal report earlier in the day.
HPE declined to comment on the report, while Juniper Networks did not immediately respond to a request for comment.
Last year, server maker HPE said it was rolling out a cloud computing service designed to power AI systems similar to ChatGPT.
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Juniper’s high-performance network and service offerings include routing, switching, Wi-Fi, network security, AI-enabled enterprise networking operations and software-defined networking technologies. — Shivani Tanna, Jyoti Narayan and Anirban Sen, (c) 2024 Reuters