Network equipment maker Juniper Networks has acquired US-based Contrail Systems, a developer of a virtualised network control solutions, in which it is a previous investor, for $176m in cash and stock, as shown in a recent filing.
Launched this year, Contrail previously raised $10m in Series A funding from Khosla Ventures, a venture capital firm focused on early stage companies in the Internet, computing, mobile, silicon technology and clean technology sectors, and an undisclosed strategic backer.
Bob Muglia, executive vice president of Juniper’s Software Solutions Division, said: “With this acquisition, Juniper gains SDN technology that augments our portfolio of products and services, as a strategic investor earlier this year, we recognized the inherent advantages of Contrail Systems’ architectural approach and we are excited to take this next step to acquire and combine Contrail Systems into our team.”