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Nokia to Acquire Infinera for $2.3 Billion, $6.65 per Share
Jun 27, 2024, 08:59 PM
Nokia has announced its plans to acquire Infinera, a maker of optical telecommunications equipment, for $2.3 billion. The deal values Infinera at $6.65 per share, representing a 28% premium. Nokia expects the transaction to be accretive to its earnings per share (EPS) in the first year and deliver over 10% comparable EPS accretion by 2027. Additionally, Nokia anticipates EUR 200 million in net operating profit synergies by 2027. At least 70% of the deal will be paid in cash. Infinera's stock has surged 23% following the announcement. The acquisition aims to increase Nokia's scale in optical networks and accelerate its product roadmap.
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