SUNNYVALE, Calif. -- Juniper Networks, Inc. (Nasdaq: JNPR), a leading provider of trusted infrastructures for the New Public Network, has signed a definitive agreement to acquire Unisphere Networks, Inc., a Siemens company, in a combined $375 million cash and 36.5 million share stock transaction. Siemens (NYSE: SI) and Juniper Networks have also agreed to enter a global partnership in the field of IP infrastructure and related systems. Based upon Juniper Networks closing stock price of $9.85 on May 17, 2002, the deal has an approximate value of $740 million. Upon final closing of the transaction, which is still subject to regulatory approval, service providers and carriers will be offered a scalable IP product and service portfolio on a global scale. The acquisition, slated to close in the third quarter of calendar year 2002, is subject to all required Board approvals, to Hart-Scott-Rodino approval, and certain other customary closing conditions. It is expected to be slightly dilutive to Juniper Networks in 2002 and accretive in 2003. At the close of the transaction, Siemens will own slightly less than 10 percent of the shares outstanding in Juniper Networks. "Our acquisition of Unisphere Networks highlights the Juniper Networks focus of supplying IP expertise to the leading service providers, carriers, and PTTs throughout the world. These customers will now be able to leverage the global reach of Siemens to utilize both Juniper Networks and Unisphere Networks proven IP experience. The result is a broadly available portfolio of core, edge, cable, and mobile IP routing and broadband access platforms," said Scott Kriens, CEO, president and Chairman of the Board of Juniper Networks. Juniper Networks Inc. Unisphere Networks Inc.