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Report: Nokia In Talks To Acquire Juniper Networks

Juniper's networking business has been on a tear this year, boosting its revenue nearly 40 percent in the second quarter, and making it an attractive target for the telecom equipment giant.

Fresh off its acquisition of telecom power Alcatel-Lucent last year, Nokia is in in talks to buy Sunnyvale, Calif.-based Juniper Networks, according to a CNBC report.

Nokia's offer values Juniper at about $16 billion, CNBC said citing anonymous sources, a total that exceeds Juniper's market capitalization by about $5 billion. The news spurred Juniper shares to climb nearly 20 percent after markets closed Wednesday.

A Juniper spokesperson told CRN the company would not comment on market speculation or rumors.

[Related: CRN Exclusive: Juniper Revamps Partner Program With 'Laser Focus' On Driving Cloud Execution]

Juniper's networking business has been on a tear this year, boosting its revenue nearly 40 percent in the second quarter, according to IDC's most recent statistics. The company, like others in the market, trails Cisco – which controls more than half of the switching market – by a wide margin in that space, however.

Nokia acquired telecom powerhouse Alcatel-Lucent for about $16.6 billion last year.

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