Juniper Networks and ADVA AG Optical Networking have signed an investment agreement. Under the agreement, ADVA’s Management Board has agreed to issue 551,471 shares to Juniper in return for $3 million dollar investment that excludes the subscription rights of present shareholders. In addition, ADVA’s Supervisory Board approved the respective capital increase.
The number of outstanding ordinary shares of ADVA has increased to 46,963,728 with the new transaction. The shares issued to Juniper will be owned by the company for a minimum of 18 months right from the day of capital increase, and will be registered with ADVA’s commercial register. Both the companies will also assess the potential of joint distribution of IP-based transport solutions to minimize network complexities and expenditures faced by service providers.
The CEO of ADVA Optical Networking, Brian Protiva, said that Juniper products deliver superior performance for IP networking, and ADVA’s open software framework and optical Ethernet transport solutions complement Juniper’s portfolio of routers and switches.