February 19, 2020 / 1:06 PM / 2 months ago

Nokia to acquire optical networking tech firm Elenion

FILE PHOTO: Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez/File Photo

(Reuters) - Finnish telecom networks maker Nokia Oyj 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.

Reporting by Tarmo Virki. Editing by Carmel Crimmins

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