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Nokia to buy optical tech developer Elenion

Nokia Corp. plans to acquire Elenion Technologies LLC, a New York-based developer of silicon photonics technologies for optical interfaces used in 5G, cloud and networking platforms.

The deal's financial terms were not disclosed.

Finnish telecom equipment maker Nokia expects the acquisition to help expand its optical networking business and boost its product offering for telecom operators.

The transaction, subject to regulatory clearances and other customary closing conditions, is expected to be completed in the first quarter.