As part of the transaction, Juniper will buy back one million shares of its common stock from Ericsson

December 6, 2000

1 Min Read

SUNNYVALE, Calif. -- Ericsson (Nasdaq: ERICY) and Juniper Networks, Inc. (Nasdaq: JNPR) announced that they are working together to provide continued support of the buildout of 3G mobile Internet networks. Ericsson has sold approximately 10.4 million shares of its holdings in Juniper Networks common stock, in part to fund the growing business opportunities and to strengthen Ericsson's focus on product development in infrastructure for 3G mobile Internet as well as IP backbone networks. Ericsson purchased these shares prior to Juniper Networks' IPO.

As part of this transaction, Juniper Networks will buy back one million shares of its common stock from Ericsson, showing continued confidence in the relationship and the opportunity the 3G joint venture can provide in the buildout of the wireless IP infrastructure.

http://www.juniper.net

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