Hewlett Packard Enterprise (HPE) is in talks to buy Juniper Networks in a deal valuing the network gear maker at about US$13 billion (S$17.3 billion), a person familiar with the matter told Reuters on Monday.
A deal between the two companies could be announced as early as this week, the source said.
Shares of Hewlett Packard fell 7.7 percent, while Juniper jumped 21 percent in extended trading.
The deal would help bolster the nearly 100-year-old technology company's artificial intelligence (AI) offerings, according to a WSJ report earlier in the day.
HPE declined to comment on the WSJ report, while Juniper Networks did not immediately respond to a Reuters request for comment.
Last year, server maker HPE said it was rolling out a cloud computing service designed to power AI systems similar to ChatGPT.
Juniper's high-performance network and service offerings include routing, switching, Wireless Fidelity (Wi-Fi), network security, AI-enabled enterprise networking operations (AIOps), and software-defined networking (SDN) technologies.
