(Reuters) – Finnish telecom networks 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- optical interfaces.

of these key assets brings time-to-market and cost advantages to Nokia’s broad portfolio of networking solutions by applying the massive 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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