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Nokia, struggling to generate growth in a tough telecom equipment market, has acquired Infinera in a deal that doesn't move the needle. The optical networking market is only targeted at 5% CAGR, missing out on the booming demand in the AI and data center space. The stock trades at nearly 10x EPS targets with no forecasted growth and the business reliant on merger synergies to boost the 2027 EPS.
Nokia CorporationInside Information 28 June 2024 at 22:00 EEST Correction: Inside Information: Nokia to acquire Infinera to increase scale in Optical Networks and accelerate product roadmap Nokia Corporation corrects its stock exchange release published on 27 June 2024, which concerned the acquisition of Infinera. The original stock exchange release lacked a description of Infinera's historical financial performance and financial position.
Infinera Corp (NASDAQ:INFN) stock is surging today, up 17.2% to trade at $6.17 at last glance, after news that Nokia (NOK) plans to buy the company for $2.3 billion.
Infinera Corp (NASDAQ: INFN) is up 20% on Friday after Nokia Oyj disclosed plans of buying the California-based company for $2.3 billion. Shares of the telecommunications giant are roughly flat at writing.
Nokia has inked an agreement to acquire Infinera Corp for $2.3 billion to expand its optical network business, particularly in North America. The acquisition of the US optical networking gear maker would make Nokia the second largest optical networking vendor with a 20% market share, trailing Huawei.
MILWAUKEE , June 28, 2024 /PRNewswire/ -- Ademi LLP is investigating Infinera (NASDAQ: INFN) for possible breaches of fiduciary duty and other violations of law in its transaction with Nokia. Click here to learn how to join the https://www.ademilaw.com/case/infinera-corporation or call Guri Ademi toll-free at 866-264-3995.
Infinera (NASDAQ: INFN ), a maker of optical equipment, is soaring today on news that Nokia (NYSE: NOK ) will acquire it in a $2.3 billion deal. Nokia appears to have decided to acquire Infinera in order to double down on its artificial intelligence (AI) data center business and compete more effectively with Huawei and Ciena (NYSE: CIEN ).
MONSEY, N.Y., June 28, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Infinera Corporation (Nasdaq: INFN) (“Infinera”) to Nokia for $6.65 per share.
Shares of Infinera (INFN) soared in premarket trading Friday, a day after the optical networking solutions company agreed to be acquired by Finnish telecommunications firm Nokia (NOK) for $2.3 billion.
Nokia's bid to buy U.S. optical networking gear maker Infinera in a $2.3 billion deal puts the Finnish company on track to gain from the billions of dollars in investment pouring into data centres to cater to the rise of artificial intelligence.