Business

Juniper Networks said to be raising a PE round to boost its enterprise and security business

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With talks falling through to sell off its assets, Juniper Networks is considering raising a private equity round to bolster its enterprise and security business, Reuters reports.

Juniper is one of the largest networking gear makers in the world, second only to Cisco.

Sources told Reuters that in the second half of 2012, the San Jose, California-based Juniper contacted its competitors to attempt to sell assets that handle networking for enterprise clients, but interest was underwhelming. Rumors pointed to NetScreen, a maker of firewall technology that Juniper bought for $4 billion, as on the table.

CEO Kevin Johnson told Reuters at Mobile World Congress that the company is not looking for a buyer for certain business units. “No, if you look at the acquisitions we have done, we’re a buyer, not a seller,” he said.

Incumbent players like Juniper have struggled to stay innovative and compete with well-funded startups. Juniper announced that it would cut 5 percent of its workforce in October. At that time, the company was facing economic uncertainty due to telecommunications customers electing to delay spending.


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