Nokia to acquire optical networking tech firm Elenion

(Reuters) – Finnish telecom networks maker Nokia Oyj (HE:) said on Wednesday it has agreed to acquire privately-held U.S.-based company Elenion Technologies to boost its optical networking business and broaden its offering to telecoms operators.

The value of the acquisition was not released.

The 2014-founded Elenion develops silicon photonics technologies for short-reach and high-performance optical interfaces.

“Ownership of these key assets brings time-to-market and cost advantages to Nokia’s broad portfolio of networking solutions by applying the massive scale and economies of silicon design and manufacturing to the optical supply chain,” Nokia said in a statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.