Juniper Networks to acquire Pacific Broadband Communications

Nov. 14, 2001--Juniper Networks Inc. has announced a definitive agreement to acquire privately held Pacific Broadband Communications in a stock transaction totaling approximately $200 million. Pacific Broadband develops standards-based cable modem termination systems (CMTS) that help cable operators deliver advanced IP services, including Voice over IP, high-speed cable modem access, and Digital Versatile Disc (DVD)-quality video on demand over the last mile cable infrastructure.

Juniper Networks Inc. has announced a definitive agreement to acquire privately held Pacific Broadband Communications in a stock transaction totaling approximately $200 million. Pacific Broadband develops standards-based cable modem termination systems (CMTS) that help cable operators deliver advanced IP services, including Voice over IP, high-speed cable modem access, and Digital Versatile Disc (DVD)-quality video on demand over the last mile cable infrastructure.

"The cable industry stands to benefit greatly from the combined expertise of Juniper Networks and Pacific Broadband Communications," contends Tony Werner, chief technical officer of Liberty Media Corp. "As the cable industry continues to evolve as a provider of tomorrow's broadband services to both business and residential subscribers, its multiple system operators must continually increase performance with innovative IP networking solutions."

The acquisition has been approved by the board of directors of each company and is subject to various closing conditions, including approval under the Hart-Scott-Rodino Antitrust Improvements Act. It is expected to close in the fourth quarter.

Pacific Broadband Communications (San Jose, CA) develops ultra dense, highly noise-immune broadband solutions that enable service providers to deliver standards-based data, telephony, and video over last mile networks. More information can be found at www.pacificbroadband.com.

Juniper Networks Inc. (Sunnyvale, CA) provides purpose-built systems designed to meet the scalability, performance, density, and compatibility requirements of evolving, optically enabled IP networks. For more information, visit the company's Web site at www.juniper.net.

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