Private equity newcomer Siris Capital Group LLC has agreed to buy the Junos Pulse product portfolio from Juniper Networks Inc. (NYSE: JNPR) for roughly $250 million.

The New York financial sponsor, which was spun out of SAC Capital Advisors LP — a $12 billion hedge fund run by Steven Cohen—in 2011, tapped into its debut fund of $641 million to facilitate the deal.

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