Juniper Networks completes acquisition of Siemens' Unisphere Networks subsidiary

July 2, 2002-IP router vendor Juniper Networks, Inc., today announced it has completed the acquisition of Siemens' subsidiary Unisphere Networks, thereby expanding its ability to offer service providers and carriers IP-based products and services on a global scale.

The total value of the transaction at closing was approximately $585 million, which includes $375 million in cash and 36.5 million shares. It is expected to be slightly dilutive to Juniper Networks in the second half of 2002 and accretive in early 2003, excluding one-time restructuring charges.

In addition, the reseller agreement between Siemens and Juniper Networks commences today, enabling Siemens to resell Juniper Networks products, as well as providing customer service and support, to all service provider and carrier customers globally. This agreement will expand Juniper Networks access to Siemens' worldwide presence and customer base in 190 countries and will enable Siemens to deliver next-generation voice solutions with comprehensive IP routing technology leveraging Juniper Networks' IP product portfolio.

Headquartered in Sunnyvale, California, Juniper Networks offers additional information on its product and service offerings at www.juniper.net.