Nokia Explores Deal for US Networking Company Infinera
(Bloomberg) -- Nokia Oyj is exploring a potential acquisition of Infinera Corp., a maker of optical telecommunications equipment, people familiar with the matter said.
Most Read from Bloomberg
Biden Struggles as He Spars With Trump on Economy: Debate Takeaways
SpaceX Tender Offer Said to Value Company at Record $210 Billion
The Helsinki-based communications group has been studying the feasibility of a deal for US-listed Infinera, according to the people. An announcement could come within days, they said.
Shares in Infinera have risen 15% over the last 12 months, giving the company a market value of about $1.2 billion.
Deliberations are ongoing and there’s no certainty they’ll result in a deal, the people said, asking not to be identified discussing confidential information. A representative for Nokia declined to comment, while a spokesperson for Infinera couldn’t immediately be reached for comment.
Based in San Jose, California, Infinera provides networking hardware and software to mobile phone operators, Internet content providers and governments, among others, according to its website. The company is led by Chief Executive Officer David Heard.
--With assistance from Dinesh Nair.
Most Read from Bloomberg Businessweek
The FBI’s Star Cooperator May Have Been Running New Scams All Along
RTO Mandates Are Killing the Euphoric Work-Life Balance Some Moms Found
Japan’s Tiny Kei-Trucks Have a Cult Following in the US, and Some States Are Pushing Back
How Glossier Turned a Viral Moment for ‘You’ Perfume Into a Lasting Business
©2024 Bloomberg L.P.