Infinera Corporation

Leader and pioneer in Intelligent Transport Networks (ITNs) - the new network architecture for telecoms carriers

The Company

Infinera Corporation was founded in 2000 (as Zepton Networks) by Drew Perkins, Jadeep Singh and David Welch. Co-founder, David Welch, was recognised by the Institution of Engineering and Technology for his "role as a pioneer in the field of optical devices and optical networks”.

ITNs enable carriers, cloud network operators, governments and enterprises to automate, converge and scale their data, metro, long-haul and subsea optical networks.

The Business Challenge

Infinera Corporation raised its first round of funding in April 2001 but remained in ‘stealth mode’ at its headquarters in Sunnyvale, CA until its first products were launched in 2004. This is when the Company turned to F&L to help it expand internationally - firstly into the UK and then further afield throughout EMEA.

The challenge was going to be setting up and managing the EMEA operations through the UK subsidiary to enable the team at Infinera Corporation to focus on products and sales.

"We have achieved more in 10 years with F&L's help than we ever could have anticipated. We have grown exponentially and F&L have kept pace with our needs and provided support and advice whenever we have called upon them."

Corporate Controller, Infinera Corporation

The Solution

Since opening its UK office in 2004, F&L have been providing an integrated combination of strategic advice, management and financial reporting, treasury management, payroll, HR and multi-territory compliance to support the business through its international expansion.

The F&L tax team got them up and running by advising on their global structure, local incorporation and people management requirements. They also took care of the Company’s Corporate Tax and VAT registrations.

Registered Office and Company Secretarial services were provided through our London office.

F&L’s accounting team continue to handle treasury services and cash management including the international processing and payment of supplier invoices and EMEA employee expense claims. The team provide added value by ensuring employee expense claims are in line with the Company’s T&E policies and are correctly authorised. Beyond this, F&L’s accounting team have delivered compliant quarterly VAT submissions and have spent the last 10 years delivering detailed monthly financial reporting statements and support on all international territories in tailored formats.

The payroll team provide a comprehensive monthly multi-territory payroll service. They handle international registrations, maintain employee records, calculate, process and report monthly withholdings and monitor entitlements. They also execute share scheme awards and international payroll tax payments in accordance with various country deadlines and make net salary payments. The payroll team are also responsible for the production and filing of international year-end payroll returns.

At various key stages of Infinera’s international development, F&L has provided additional support and advice to help assist the Company's worldwide expansion. All of this has been significantly beneficial to the in-house US finance team, as it freed them up to focus on core areas of activity.

Outcome

With this solid foundation for further growth, Infinera Corporation (“INFN”) went public on the NASDAQ in 2007, raising $182m.

Today, with customers in more than 72 countries and almost 2,000 employees worldwide, Infinera Corporation is able to make the impressive claim that they have provided "500,000 hours of failure free operation worldwide”.

As international staff numbers outside the US have continued to increase, F&L’s payroll and HR compliance solutions continue to be a key element in supporting Infinera Corporation’s expansion - providing multi-territory advice and compliance across EMEA.

F&L’s integrated approach has allowed us to meet each functional challenge as it has arisen and provide peace of mind that Infinera Corporation remains in control and compliant as the Company continues to grow.

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