Juniper Networks announced the Junos Innovation Fund, a new corporate venture capital initiative

February 23, 2010

2 Min Read

SUNNYVALE, Calif. -- Juniper Networks (NYSE:JNPR - News) today announced the Junos Innovation Fund, a new corporate venture capital initiative that will invest in groundbreaking companies focused on improving the experience and economics of networking. The $50 million fund expands Juniper's efforts to create and deliver an ecosystem of technologies, software and applications built on the open and secure Junos software platform, which allows companies to directly program multiple layers of their networks and quickly and efficiently create new services while enabling rich user experiences, revolutionary economics and fast time to market.

Primarily targeting early- and growth-stage venture backed companies, the Junos Innovation Fund will invest in companies over the next two years that complement Juniper's growth strategy. Key investment areas will include networking technologies, applications, and services that foster the development and deployment of security infrastructure, advanced mobility and video solutions, virtualization, network automation, optical technology, and green networking.

"Junos already offers our customers, partners and developers a powerful platform to drive innovation for the network, from the core to the client, without having to build from scratch. With the Junos Innovation Fund, we'll expand that ecosystem with capital resources in addition to SDKs and support services that will accelerate the velocity and variety of 'new network' solutions reaching our customers," said Kevin Johnson, CEO of Juniper Networks. "These investments will also enhance Juniper's R&D roadmap and ensure that the company is continuing to lead in bringing transformational technologies to market."

In a separate release:

SUNNYVALE, Calif. -- Juniper Networks (NYSE:JNPR - News) today announced that its board of directors approved a new stock repurchase program which enables the Company to purchase up to $1 billion of the Company's common stock.

This new authorization is in addition to the $1 billion stock repurchase program approved in 2008. To date, the Company has repurchased approximately $732 million of its stock under the $1 billion authorized in 2008.

Share repurchases under Juniper's stock repurchase programs will be subject to a review of the circumstances in place at the time and will be made from time to time in private transactions or open market purchases as permitted by securities laws and other legal requirements. The program may be discontinued at any time.

Juniper Networks Inc. (NYSE: JNPR)

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