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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Radware (Nasdaq: RDWR ) dropped like a rock today, down by 12% at the low, after customer Juniper Networks (Nasdaq: JNPR ) announced a partnership with Riverbed Technology (Nasdaq: RVBD ) .
So what: Juniper was previously using Radware's application delivery controller, AppDirector, so news that Juniper is licensing Riverbed's ADC technology is rattling investors. This is especially disconcerting as many had expected Juniper to go with Radware in the deal, according to Barclays analyst Joseph Wolf.
Now what: Radware has jumped in front of the situation and issued a press release confirming that its existing relationship with Juniper "remains intact." Radware and Juniper had previously announced a partnership in October of last year, and that deal is still in place. Radware says its strategy to grow its ADC business is to tap OEMs and distribution channels as opposed to selling or licensing its IP, which is what's happening in Juniper's deal with Riverbed.
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