Palo Alto Networks has agreed to pay $175 million to Juniper Networks to settle patent litigation between the firms. Under the terms of the settlement, Palo Alto Networks will make a one-time payment to Juniper Networks of $75 million in cash and $100 million in shares of common stock and warrants to purchase common stock. The companies have agreed to dismiss all patent litigation pending in Delaware and California.
"Juniper Networks initiated this litigation in order to protect our intellectual property and investment in innovation that is reflected in our leading security products," said Mitchell Gaynor, executive vice president and general counsel, Juniper Networks. "This settlement fully achieves those objectives, and we are very pleased with this resolution."
- Palo Alto Networks was founded by Nir Zuk (CTO), Rajiv Batra (VP of Engineering) and Yuming Mao (Chief Architect). Zuk was previously CTO at NetScreen Technologies, which was acquired by Juniper Networks in 2004. Prior to NetScreen, Nir was co-founder and CTO at OneSecure, a pioneer in intrusion prevention and detection appliances. Nir was also a principal engineer at Check Point Software Technologies and was one of the developers of stateful inspection technology. Batra previously was the Vice President of Engineering at Peribit, which was acquired by Juniper Networks in 2005. He also co-founded VitalSigns Software and served as Vice President of Engineering at Bay Networks. Mao previously was Chief Architect and a Distinguished Engineer at Juniper Networks, which he joined through the NetScreen Technologies acquisition. At NetScreen, he was one of the initial engineering architects.