Nokia is expected to close its $2.3 billion acquisition of networking firm Infinera Corporation by the end of this month.
Infinera confirmed in an announcement this week that it expects to close the sale on February 28.
Finnish vendor Nokia first announced plans to acquire optical networking vendor Infinera in June.
The vendor said at the time that at least 70 percent of the payment would be made in cash, with the overall deal also including the repurchase of the $760 million in convertible notes owned by Infinera.
Founded in 2000 and headquartered in San Jose, California, Infinera makes optical semiconductors and networking equipment for carriers, cloud operators, governments, and enterprises.
The acquisition is expected to support Nokia’s data center push, something that the company has been loud about in recent months.
Last week the company appointed Intel data center executive Justin Hotard as its CEO to replace Pekka Lundmark.
In that announcement, Sari Baldauf, chair of Nokia’s board of directors noted that AI and data center markets are “critical areas for Nokia’s future growth.”
In October, former CEO Lundmark said Nokia sees a “significant opportunity” to expand its presence in the data center market.
Following his comments, Nokia extended its existing agreement to supply Microsoft Azure with data center routers and switches. Then in December, Nokia along with Kyndryl announced plans to offer advanced data center networking solutions and services to global enterprises.
In September, Nokia also announced the launch of a data center automation platform which it describes as an “event-driven automation” (EDA) platform.
Read the orginal article: https://www.datacenterdynamics.com/en/news/nokia-to-close-23bn-acquisition-of-infinera-by-end-of-february/