Hewlett Packard Enterprise Co. agreed to buy Juniper Networks Inc. for $14 billion in a move that will expand its presence in networking but raised skepticism from Wall Street.

HPE, a maker of data center hardware, will pay $40 a share in cash for Juniper, the companies said Tuesday in a statement. That price represents more than half of HPE’s $21 billion market value and a 32% premium over Juniper’s closing price of $30.22 on Monday before talks of a deal emerged.