SUNNYVALE, Calif., Oct. 01, 2018 (GLOBE NEWSWIRE) — Infinera, provider of Intelligent Transport Networks, issued the following comments regarding a report addressing the details of its pending acquisition of Coriant and future opportunities with CenturyLink.
In a report published today, an analyst erroneously suggested that Infinera would need to issue additional shares to close the Coriant transaction. Per terms of the agreement, the number of shares issued upon close is fixed at 20,975,384 shares.
In addition, the analyst stated that a pending CenturyLink RFP will likely not be awarded to Infinera. Subsequent to the publication of this analyst report, Infinera confirmed with CenturyLink executive management that a final decision has not been made.
Having closed the fiscal third quarter of 2018 on Saturday, September 29, Infinera is currently in its investor quiet period. We anticipate announcing the close of our acquisition of Coriant shortly and, in upcoming weeks, reporting our quarterly results and future opportunities as a combined company on our third quarter 2018 earnings call.
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Infinera (NASDAQ: INFN) provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at blog.infinera.com.
Infinera and the Infinera logo are registered trademarks of Infinera Corporation.
This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. Such forward-looking statements include, without limitation, Infinera’s expectations regarding future opportunities and timing of upcoming announcements. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. These risks and uncertainties include, but are not limited to, the following: reduction of revenue from key customers, including the risk that we are not awarded the aforementioned CenturyLink RFP; the parties’ ability to promptly and effectively integrate the businesses of Infinera and Coriant; delays in the development and introduction of new products or updates to existing products and market acceptance of these products; fluctuations in demand, sales cycles and prices for products and services; and changes in general economic conditions. For additional information concerning factors that could cause actual conditions, events or results to materially differ from those described in the forward-looking statements, please refer to the factors contained in the risk factors section of Infinera’s most recent Quarterly Report on Form 10-K, filed with the SEC on August 8, 2018, as well as in Infinera’s future Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and other filings that Infinera makes with the SEC. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.