Networking company Juniper Networks has announced that it’s reached a deal to acquire 128 Technology, a Massachusetts-based startup that provides networking and data infrastructure services. Juniper will pay $450 million to acquire 128, which was founded in 2014 and has raised $97 million in outside funding throughout its existence. Among 128’s backers who stand to profit from its acquisition include the likes of G20 Ventures and The Perkins Fund.

Juniper says it expects its acquisition of 128 Technology to close in the fourth quarter of this year, an acquisition that once completed will see 128 become housed under Juniper’s ‘AI-Driven Enterprise’ business unit.

128 Technology provides “session-smart” networking solutions to enterprises, its networking solutions bolstered by artificial intelligence which marks as a major selling point. The company was founded in 2014 but stayed in stealth for two years before launching a product. Throughout its history, 128 has raised nearly $100 million in private funding, its most recent round being a $30 million Series D raised in 2019.

128 Technology has dozens of employees and is based out of the city of Burlington, Massachusetts.

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