Radware Tumbles on Juniper’s Licensing Deal With Competitor

Radware Ltd. (RDWR), an Israeli technology company, sank the most in 19 months in New York after Juniper Networks Inc. (JNPR) announced a licensing deal with competitor Riverbed Technology Inc.

Radware, the Tel Aviv-based developer of technology to help networks run more efficiently, declined 11 percent to $32.69 by 12:58 p.m. in New York, poised for the biggest retreat since December 2010. The slump lead declines on the Bloomberg Israel- US Equity Index of the most traded Israeli companies in New York.

Juniper, the world’s No. 2 maker of networking gear, announced yesterday after the market closed a $75 million deal with Riverbed to license products that help boost application performance. Radware said its partnership with Juniper, which was announced in October, remains intact.

“The reason its shares are reacting like this is because some people had expectations that Juniper would go with Radware for this deal,” Joseph Wolf, an analyst for Barclays Plc in said by phone from Tel Aviv.

To contact the reporters on this story: Sridhar Natarajan in New York at snatarajan15@bloomberg.net

To contact the editors responsible for this story: Tal Barak Harif at tbarak@bloomberg.net;

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.