Nokia, a telecommunications, information technology, and consumer electronics corporation, agreed to acquire Infinera, a supplier of innovative open optical networking solutions and advanced optical semiconductors, for $2.3bn. “In 2021 we increased our organic investment in Optical Networks with a view to improving our competitiveness. That decision has paid off and has delivered improved customer recognition, strong sales growth and increased profitability. We believe now is the right time to take a compelling inorganic step to further expand Nokia’s scale in optical networks. The combined businesses have a strong strategic fit given their highly complementary customer, geographic and technology profiles. With the opportunity to deliver over 10% comparable EPS accretion, we believe this will create significant value for shareholders," Pekka Lundmark, Nokia President and CEO.