Juniper Networks and Belden Inc. announced they have entered into a definitive agreement under which Juniper will acquire Trapeze Networks, a technology leader in enterprise wireless local area network (WLAN) systems and management software, in an all cash transaction valued at approximately $152 million. The acquisition is anticipated to close in the fourth quarter of 2010, subject to the satisfaction of customary closing conditions and applicable regulatory reviews.
"The acquisition will make WLAN infrastructure a key part of Juniper's portfolio, accelerating the company's growth in the enterprise market and advancing its vision for the new network," the companies said.
A recent report by Dell'Oro Group estimates that the enterprise WLAN technology market will grow from $2.2 billion in 2010 to $3.4 billion in 2014.
The companies said Pleasanton-based Trapeze Networks currently holds 17 awarded patents - more than any other WLAN provider - with 49 more patent filings pending.
"As the leader in high-performance networking, Juniper represents the ideal provider for us to unlock the value of Trapeze Networks in the global enterprise market," said John Stroup, president and CEO of Belden Inc. "This agreement enables our organization to remain focused on the long-term growth opportunities for wireless technology in our core markets, including the nascent industrial networking market."