Short Take: Juniper to acquire Micro Magic

Juniper Networks, a maker of high-end routers and networking equipment, has completed the acquisition of Micro Magic, a privately held integrated circuits company, for $260 million in cash and stock. As a result, Juniper expects to take a fourth-quarter charge of about $24.7 million and a charge of about $113.4 million in 2001. Micro Magic is intended to help Juniper develop chips for its Internet routing equipment.