Finnish network equipment maker Nokia is in discussions to buy California-based Juniper Networks, CNBC reported Wednesday, citing sources familiar with the matter.
The offer would value Juniper at around US$16 billion, according to the report.
Juniper, a network gear maker that is headquartered in Sunnyvale, had a market capitalization of around US$11.12 billion as of market close Wednesday.
Following the CNBC report, Juniper shares soared more than 19 percent in after-hours trading. A deal would marry a multibillion-dollar networking company with Nokia’s infrastructure resources.
Nokia has been focusing on its telecom equipment business after it sold its mobile phone unit to Microsoft.
The Finnish firm bought Alcatel-Lucent for about US$16.6 billion last year as part of its business transformation.
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