Investing.com -- Datadog Inc (NASDAQ: DDOG ). will be added to the S&P 500 index , replacing Juniper Networks Inc (NYSE: JNPR )., according to an announcement made by S&P Dow Jones Indices on Wednesday.

The change will take effect prior to the opening of trading on Wednesday, July 9.

The index adjustment follows the acquisition of Juniper Networks by Hewlett Packard Enterprise Co (NYSE: HPE )., an existing S&P 500 constituent. Hewlett Packard completed its $14 billion takeover of Juniper Networks on Tuesday.

Datadog shares rose more than 8% in trading following the news of its inclusion in the prominent stock index.