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Infinera, provider of Intelligent Transport Networks, announced it has closed on its acquisition of Coriant, a privately held global supplier of open network solutions for the largest global network operators. The acquisition positions Infinera as one of the largest vertically integrated optical network equipment providers in the world.
The closing was pursuant to the terms of the definitive unit purchase agreement previously announced by Infinera on July 23, 2018. In connection with the purchase of Coriant, Infinera issued 20,975,384 shares of its common stock and will pay an aggregate amount of cash consideration, approximately $230 million, of which approximately $154 million was paid upon closing.
The acquisition is expected to significantly increase revenue while expanding Infinera’s customer base to serve nine of the top 10 global network operators and the top six global internet content providers. The combination positions Infinera to deliver a powerful suite of innovative, end-to-end packet optical network solutions for communications service providers and internet content providers.READ MORE