Infinera Secures EU Approval for Acquisition of $2.3 Billion
Infinera, Inc., a leading provider of intelligent transport network solutions, announced today that it has received approval from the European Union (EU) regulator, the European Commission, for its acquisition of $2.3 billion. The deal marks a significant milestone for the company, which is expected to strengthen its position in the global telecommunications market.
In November 2020, Infinera announced that it would acquire Newark, New Jersey-based optical component specialist, Clearfield, Inc. for $2.3 billion. The deal was subject to regulatory approval from various jurisdictions, including the EU.
The EU’s decision clears the way for Infinera to complete the acquisition, which is seen as a key move to enhance its product portfolio and expand its presence in the European market. The deal is expected to be completed in the coming weeks, subject to satisfaction of certain closing conditions.
With the EU’s approval, Infinera will gain access to Clearfield’s innovative optical component solutions, including its widely adopted metro and long-haul optical transmission products. The acquisition will also enable Infinera to expand its global footprint, increase its manufacturing capabilities, and diversify its revenue streams.
"We are thrilled to have received approval from the European Commission for our acquisition of Clearfield," said David Welch, Infinera’s CEO. "This deal will enable us to offer our customers a broader range of innovative products and solutions, and further solidify our position as a leader in the global optical transport market."
The acquisition will also create new opportunities for Infinera’s clients, who will be able to benefit from the combined expertise and capabilities of both companies. Infinera’s CEO, David Welch, noted that the deal will enable the company to "leverage Clearfield’s expertise in interconnect and optical component design to further enhance our product offerings and bring more value to our customers."
Infinera is a market leader in the optical transport industry, known for its cutting-edge products and solutions that enable network operators to deliver high-speed data transmission, reduce costs, and improve network efficiency. The company has a global presence, with clients in Asia, Europe, and the Americas.
The acquisition of Clearfield is seen as a strategic move by Infinera to expand its presence in the European market, where demand for high-speed data transmission is on the rise. The deal is expected to be a significant step forward for the company, enabling it to capitalize on the growing demand for optical transport solutions.
With the EU’s approval secured, Infinera is poised to become an even stronger player in the global optical transport market, with a broader range of products and services to offer its clients. The deal is expected to be completed in the coming weeks, and is likely to have a positive impact on the company’s financial performance in the future.
