Nokia’s $2.3 billion acquisition of Infineon was approved by the European Union! The European Commission announced on February 26 that it had unconditionally approved Nokia’s $2.3 billion acquisition of Infinera, a US optical semiconductor and network equipment manufacturer.
The European Commission said the acquisition would not create a market monopoly because the two companies have a modest share of the optical transmission equipment market and the market competition is still fierce. The deal was originally announced in June last year for $2.23 billion.
After the acquisition, Nokia will become the world’s second largest supplier of optical network equipment, with a market share of 20%, second only to a Chinese company. The acquisition will help Nokia expand its market share in large tech customer bases, such as Amazon, Alphabet and Microsoft, which are investing heavily in building data centers to meet the booming demand for artificial intelligence.
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