Infinera Corporation Share News

Infinera (NASDAQ: INFN ), a maker of optical equipment, is soaring today on news that Nokia (NYSE: NOK ) will acquire it in a $2.3 billion deal. Nokia appears to have decided to acquire Infinera in order to double down on its artificial intelligence (AI) data center business and compete more effectively with Huawei and Ciena (NYSE: CIEN ).

MONSEY, N.Y., June 28, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Infinera Corporation (Nasdaq: INFN) (“Infinera”) to Nokia for $6.65 per share.

Shares of Infinera (INFN) soared in premarket trading Friday, a day after the optical networking solutions company agreed to be acquired by Finnish telecommunications firm Nokia (NOK) for $2.3 billion.

The combined Nokia and Infinera will have a market share of around 20% globally, broadly equal to Ciena but lagging Huawei's 31% share.

Nokia's bid to buy U.S. optical networking gear maker Infinera in a $2.3 billion deal puts the Finnish company on track to gain from the billions of dollars in investment pouring into data centres to cater to the rise of artificial intelligence.

Finnish telecommunications major Nokia Corporation will be acquiring California-based telecommunication equipment company Infinera Corporation for $2.3 billion in a bid to scale up its optical business, the company announced on Thursday. Infinera's stock rose 18% after the deal announcement.

Nokia CorporationInside Information 27 June 2024 at 23:50 EEST Inside Information: Nokia to acquire Infinera to increase scale in Optical Networks and accelerate product roadmap Creates a highly scaled and truly global optical business with increased in-house technology capabilities and vertical integration. Strengthens Nokia's optical position, specifically in North America.

Nokia is exploring a potential acquisition of Infinera Corp , a maker of optical telecommunications equipment, Bloomberg News reported on Thursday, citing people familiar with the matter.