Juniper Networks invests $3M in ADVA Optical Networking

July 2, 2010
JULY 1, 2010 -- ADVA AG Optical Networking and Juniper Networks, Inc. have entered into an investment agreement through which ADVA Optical Networking will issue 551,471 ordinary shares to Juniper Networks in exchange for a $3 million investment under exclusion of subscription rights of existing shareholders.

JULY 1, 2010 -- ADVA AG Optical Networking and Juniper Networks, Inc. have entered into an investment agreement through which ADVA Optical Networking will issue 551,471 ordinary shares to Juniper Networks in exchange for a $3 million investment under exclusion of subscription rights of existing shareholders.

In addition, the companies will evaluate the potential for jointly marketing and selling IP-based transport products to service providers.

“Juniper Networks is a great partner with global reach and presence at all Tier 1 accounts,” said Brian Protiva, CEO at ADVA Optical Networking. “Their products have earned a fantastic reputation in the service provider community for delivering leading-edge performance for IP networking. Our innovative Optical+Ethernet transport solutions and open software framework make for an ideal foundation for Juniper’s portfolio of switches and routers.”

“ADVA Optical Networking has been recognized for delivering high-quality and cost-effective optical transport products to market and shares a similar vision for enabling customers to benefit from improved economics,” said Stefan Dyckerhoff, executive vice president and general manager of Infrastructure Products Group at Juniper Networks. “Our investment will strengthen the relationship between both companies.”

With the transaction, the number of ordinary ADVA Optical Networking shares outstanding increases by 1.2% to 46,963,728. Juniper Networks is obliged to hold the shares issued to them for at least 18 months from the day the related capital increase will be registered with the commercial register of ADVA Optical Networking. This obligation is subject to certain conditions, in particular that ADVA Optical Networking will remain independent.

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