Layer Five was a US-based company that was acquired by Juniper Networks in 1999 for US$ 19 million. Layer Five was founded by Spencer Greene, of Palo Alto, California. Other employees included Jim Washburn and Sid Agrawal, later CEO of SiPort. Spencer left his job at Alliance Semiconductor in early 1997 to found the company, based on implementing an idea he had for networking hardware. At the time, only one academic paper had been published regarding the seed idea.