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Juniper Networks (NYSE: JNPR ) has reached agreement to acquire Contrail Systems, Juniper wrote on its official blog. The price is approximately $176 million in cash and stock, the company revealed in an SEC filing.
Contrail, which was founded and received $10 million in venture funding earlier this year, specializes in software-defined networking. This is a relatively new field, and it's considered a threat to the traditional, hardware-based networking solutions offered by companies such as Cisco Systems (NASDAQ: CSCO ) .
The company already has a stake in Contrail as an early-stage strategic investor. In its blog post, the company said that "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."