Infinera, which has a market value of $1.6 billion, is working with investment bank Centerview Partners to start the sale process within a few weeks, Reuters said, citing sources, but it’s not sure if Infinera will strike any deal.
Infinera did not respond to a request for comment, and an Oak Capital spokesman declined to comment.
As of this writing, Infinera shares closed up 7.74 percent to $7.38 yesterday, up more than 11 percent during the day, and continue to rise after hours, with a current market value of $1.643 billion.
Infinera, a vertically integrated manufacturer based in San Jose, California, is a pioneer in the design and manufacture of large-scale photonic integrated circuits (PICs), with a focus on optical semiconductors and networking equipment for fixed-line and mobile telecommunications networks.
Oaktree Capital, a credit investment firm controlled by Brookfield Asset Management Ltd, sold its equipment manufacturer Coriant to Infinera in 2018 for $430 million in cash and stock and now has a seat on Infinera’s board of directors.
