As part of the settlement, Palo Alto will pay Juniper Networks $75 million in cash and $100 million in stock. The two companies have also pledged to dismiss all patent litigation pending as a result of the settlement.
“Juniper Networks initiated this litigation in order to protect our intellectual property and investment in innovation that is reflected in our leading security products,” Mitchell Gaynor, executive vice president and general counsel of Juniper Networks, said in a statement. “This settlement fully achieves those objectives, and we are very pleased with this resolution.”
Palo Alto’s President and CEO, Mark McLaughlin, also noted that he is pleased to put the legal battle behind him.