Nokia announces $2.3 billion acquisition of Infinera Corp (INFN.O) to bolster its optical network business, particularly in North America. The deal includes paying $6.65 per share, a 26.4% premium over Infinera’s Thursday closing price of $5.26, with at least 70% of the payment in cash. Shareholders of Infinera have the option to receive up to 30% in Nokia’s American Depositary Shares.
The acquisition is expected to enhance Nokia’s earnings per share within the first year and contribute over 10% to profits by 2027. Based in San Jose, California, Infinera specializes in optical semiconductors and networking equipment for telecommunications networks.
