Advertisement
Canada markets closed

  • S&P/TSX

    21,947.41
    +124.21 (+0.57%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +449.98 (+1.18%)
     

  • CAD/USD

    0.7314
    +0.0000 (+0.01%)
     

  • CRUDE OIL

    77.99
    -0.12 (-0.15%)
     

  • Bitcoin CAD

    87,382.62
    -104.77 (-0.12%)
     

  • CMC Crypto 200

    1,330.56
    +53.58 (+4.20%)
     

  • GOLD FUTURES

    2,310.10
    +1.50 (+0.06%)
     

  • RUSSELL 2000

    2,035.72
    +19.61 (+0.97%)
     

  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     

  • NASDAQ

    16,156.33
    +315.33 (+1.99%)
     

  • VOLATILITY

    13.49
    -1.19 (-8.11%)
     

  • FTSE

    8,213.49
    +41.34 (+0.51%)
     

  • NIKKEI 225

    38,236.07
    -38.03 (-0.10%)
     

  • CAD/EUR

    0.6792
    -0.0025 (-0.37%)
     

Nokia to acquire optical networking tech firm Elenion

Reuters
Updated ·1 min read
FILE PHOTO: Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona

(Reuters) - Finnish telecom networks maker Nokia Oyj said on Wednesday it has agreed to acquire privately-held U.S.-based company Elenion Technologies to boost its optical networking business and broaden its offering to telecoms operators.

The value of the acquisition was not released.

The 2014-founded Elenion develops silicon photonics technologies for short-reach and high-performance optical interfaces.

"Ownership of these key assets brings time-to-market and cost advantages to Nokia's broad portfolio of networking solutions by applying the massive scale and economies of silicon design and manufacturing to the optical supply chain," Nokia said in a statement.

(Reporting by Tarmo Virki. Editing by Carmel Crimmins)