Juniper Networks agreed to acquire 128 Technology, a software-based networking company based in Burlington, Mass., for $450 million in cash and the assumption of outstanding equity awards. Juniper has also coordinated for 128 Technology to issue retention focused restricted stock units, which will be assumed by Juniper.
128 Technology’s session-smart networking enables enterprise customers and service providers to create a user experience-centric fabric for WAN connectivity. Routing decisions are based on real-time user sessions and agile business policies instead of static network policies configured on a per tunnel basis. The company, which was founded in 2014 and launched in 2016, is headed by Andy Orly, co-founder and CEO.
Juniper said the deal will enhance its AI-driven enterprise network portfolio by uniting 128 Technology’s Session Smart networking with Juniper’s campus and branch solutions driven by Mist AI. 128 Technology will be integrated with Juniper’s AI-Driven Enterprise business unit, which includes wired and wireless access and SD-WAN, all driven by Mist AI. The combined portfolio will give customers a unified platform for optimized user experiences from client-to-cloud.
“The acquisition of 128 Technology will enable Juniper to accelerate in a key area where we are seeing enormous success – the AI-driven enterprise,” said Rami Rahim, CEO of Juniper Networks. “Both companies share a common vision of putting user experiences above all else and leveraging automation with proactive actions to simplify IT operations. With 128 Technology, we are adding a highly differentiated technology into our award-winning arsenal of campus and branch solutions driven by Mist AI to deliver even more customer value while further accelerating Juniper’s continued growth in the enterprise.”
“128 Technology has brought to market a groundbreaking session-based routing solution that gives rise to experience-based networking. This allows our customers to realign their network with the requirements of a digital future that includes cloud, mobility and virtualization,” said Andy Ory, Co-Founder and CEO of 128 Technology. “The combination of our Session Smart Router with Juniper’s AI-driven enterprise portfolio, expansive channel and world-class support will dramatically accelerate our vision to transform networking and make a big impact on a very large, yet still highly under-served, WAN-Edge market.”
128 Technology raises $30M for smart session routing
128 Technology, a start-up based in Burlington, Massachusetts, closed $30 million in Series D financing for its “Session Smart” Routing technology.
“The latest round of funding comes at a pivotal time for 128 Technology, when we’re seeing higher than ever demand for our session-based, service-centric networking approach,” said Andy Ory, CEO of 128 Technology. “As virtualization and cloud are shaping our connected future, 128 Technology’s approach offers users a simple, agile solution and helps enterprises manage their networks efficiently and securely.”
“Andy Ory and his rapidly growing 128 Technology team have disrupted the multi-billion-dollar market for traditional networking by delivering proven, next generation network services that give customers freedom from increased risks, unnecessary costs and vendor lock-in,” said Sonja Hoel Perkins, Managing Director, The Perkins Fund. “As companies around the globe continue to invest in solutions that meet the demands for a new model of virtual networking, 128 Technology has created a large, untapped market opportunity.”
Existing investors all participated in the oversubscribed round, including executive management and current employees of 128 Technology, G20 Ventures, The Perkins Fund and individual investors. The company has raised $97.4 million to date.
