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Nokia’s $2.3 Billion Infinera Deal Overhauls Fixed Network Unit

June 28, 2024, 7:28 AM UTC
Liana Baker
Liana Baker
Bloomberg News
Ryan Gould
Ryan Gould
Michelle F. Davis
Michelle F. Davis
Bloomberg News
Jillian Deutsch
Jillian Deutsch
Bloomberg News

Nokia Oyj has agreed to buy Infinera Corp. in a $2.3 billion deal that will bulk up its network infrastructure business for broadband and fiber optic networks, a key revenue driver as the Finnish company’s mobile infrastructure operations shrink.

The takeover, which includes debt, will value the optical telecommunications maker at $6.65 per share, the companies said in a statement late on Thursday. At least 70% of the deal will be paid in cash, with the rest consisting of Nokia’s American depositary shares, according to the statement, which confirmed an earlier report by Bloomberg News.

Nokia Oyj has agreed to acquire Infinera Corp. in a transaction valuing the maker of optical telecommunications equipment at $2.3 billion including debt. Nokia said in a statement that the acquisition will help the firm’s push into AI data centers. Infinera’s shares jumped as much as 25% after the close of regular trading on Thursday. Bloomberg’s Joe Easton reports. Source: Bloomberg

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