INFN News & Events

Nokia announced the closing of the acquisition of Infinera Corporation. The San Jose based company has become part of Nokia effective as of the closing. The company said, "The acquisition brings together two innovation leaders with a history of industry firsts. In doing so, it creates an optical networks powerhouse with the scale to accelerate product roadmaps, further expanding Nokia's ability to help network operators - whether service providers, webscalers or enterprises - unlock the opportunities and meet the network and power demands of the AI era." The Infinera team will join Nokia's Optical Networks business, headed by its Vice President and General Manager, James Watt. Meanwhile Infinera CEO, David Heard will join Nokia's Network Infrastructure business group as NI Chief Strategic Growth Officer. In this position he will help to set and oversee the implementation of the business group's growth plans, including specific customer segment strategies, product and market mix, and go-to-market approach across the business group. Nokia reconfirms that it expects the transaction to be accretive to Nokia comparable operating profit and EPS in 2025 and Nokia continues to target over EUR 200M of net comparable operating profit synergies from the deal by 2027 with the synergies ramping gradually over the three-year period. The transaction is expected to deliver over 10% comparable EPS accretion in 2027.

On June 27, 2024, Infinera, Nokia (NOK), a company incorporated under the laws of the Republic of Finland and Neptune of America Corporation, a Delaware corporation and wholly owned subsidiary of Nokia entered into an Agreement and Plan of Merger that provides for Merger Sub to merge with and into Infinera, with Infinera surviving the Merger as a wholly owned subsidiary of Nokia. On February 18, 2025, Infinera issued a press release announcing that the Merger is anticipated to be completed on or about February 28, 2025, which date remains subject to the satisfaction of remaining closing conditions. In light of the proposed transaction with Nokia, and as is customary during the pendency of an acquisition, Infinera will not be providing financial guidance during the pendency of the acquisition.