Nokia Oyj entered into a definitive agreement to acquire Infinera Corporation for $1.7 billion.
The acquisition has been unanimously approved by the board of directors of both Nokia and Infinera. Acquisition is targeted to close during the first half of 2025, subject to approval by Infinera?s shareholders, regulatory approvals including antitrust, CFIUS and other foreign direct investment approvals and other customary closing conditions. The transaction is expected to be accretive to Nokia?s comparable EPS in the first year post close and to deliver over 10% comparable EPS accretion by 2027.
PJT Partners served as financial advisor to Nokia. Skadden, Arps, Slate, Meagher & Flom LLP and Roschier, Attorneys Ltd served as legal advisors. Centerview Partners LLC is acting as exclusive financial advisor to Infinera. Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal advisor.