Juniper Networks to buy media infrastructure technology firm Ankeena
Sunnyvale-based Juniper Networks Inc. is set to acquire a privately-held new media infrastructure technology solution providing company, Ankeena Networks Inc., the company announced on Thursday.
Though financial transactions associated with the takeover deal were not disclosed, Juniper just mentioned that it would have a deep impact on the company's financial health as consideration for the deal would be just around $100 million.
The acquirer plans to leverage Ankeena's expertise in the field of media infrastructure technology, and use it to the perfection to make its media content rich.
Santa Clara-based Ankeen Networks Inc. was founded in 2008 by a group of enthusiastic India entrepreneurs including Chief Executive Rajan Raghavan, Chief Architect Jaspal Kohli, Chief Technology Officer Prabakar Sundarrajan, and Vice President of Engineering Kumar Narayanan. The company was initially named as Nokeena Networks Inc.
Post acquisition, the core management team of Ankeena would join Juniper at various leadership positions. They would play pivotal roles in the Junos Ready Software business group.
Ankeen was developed by venture capital firm Clearstone and it was supported by others like Trinity Ventures and Mayfield Fund.