Optical networking maker Infinera explores sale

Infinera, a U.S. manufacturer of optical semiconductors and networking equipment for fixed line and mobile telecommunications networks, is exploring options that include a sale of the company, Reuters news report said.
Infinera at at trade eventInfinera reported revenue of $1,573.2 million in 2022 compared to $1,425.2 million in 2021 with gross margin of 34.1 percent vs 34.9 percent. Infinera is targeting revenue of $380 million in Q1 2023.

The San Jose, California-based company, which has a market value of $1.6 billion, is working with investment bank Centerview Partners on a sale process that will launch in a few weeks.

Oaktree Capital, the credit investment firm controlled by Brookfield Asset Management, has sold its equipment maker Coriant to Infinera in 2018 for $430 million in cash and stock and currently holds a seat on Infinera’s board.