Ericsson and Juniper Networks Provide Support to 3G Mobile Internet Providers
Stockholm, Sweden and Sunnyvale, CA - December 6, 2000 - 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 the 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.
This is the first step in the execution of the joint venture strategy for supporting the rapid growth of the mobile Internet. This further positions Ericsson to address all aspects of the emerging market opportunity.
Ericsson is the leading communications supplier, combining innovation in mobility and Internet in creating the new era of mobile Internet. Ericsson provides total solutions covering everything from systems and applications to mobile phones and other communications tools. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for customers all over the world.
Juniper Networks, Inc. is a leading provider of purpose-built systems that meet the scalability, performance, density, and compatibility requirements of rapidly evolving, optically enabled IP networks. These systems provide new IP infrastructure solutions for the world's leading service providers. Juniper Networks service and manufacturing teams and IP engineers work closely with customers to build and support customer networks. The company is headquartered in Sunnyvale, California. For more information, please visit our Web site at https://www.juniper.net.
Juniper Networks is a registered trademark of Juniper Networks, Inc.