Corning Incorporated Acquires iBwave Solutions, Inc.
April 01 2015 - 9:18AM
Acquisition supports wireless growth
CORNING, N.Y. - Corning
Incorporated (NYSE: GLW) announced today that it has acquired
iBwave Solutions, Inc. The terms of the acquisition agreement were
not released.
Based in Montreal, Canada, iBwave is an industry
leader in design software for in-building wireless solutions for a
wide range of customers and system integrators. Its software and
professional services are used by more than 600 global leading
telecom operators, system integrators, and equipment manufacturers
in more than 80 countries worldwide.
iBwave will operate under its current name as a
wholly owned subsidiary of Corning, reporting to Corning's Optical
Communications business segment. iBwave will continue to serve its
customers from its Canadian headquarters under the same
leadership.
"iBwave is a world leading resource for
inside-building wireless design" said Clark S. Kinlin, executive
vice president, Corning Optical Communications. "We are pleased to
welcome this experienced team to Corning."
Forward-Looking and Cautionary
Statements
This press release contains "forward-looking statements" (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning's financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, or major health concerns;
adequacy of insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete inventory;
the rate of technology change; the ability to enforce patents;
product and components performance issues; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only as
of the day that they are made, and Corning undertakes no obligation
to update them in light of new information or future events.
About Corning
Incorporated
Corning (www.corning.com) is one of the world's leading innovators
in materials science. For more than 160 years, Corning has applied
its unparalleled expertise in specialty glass, ceramics, and
optical physics to develop products that have created new
industries and transformed people's lives. Corning succeeds through
sustained investment in R&D, a unique combination of material
and process innovation, and close collaboration with customers to
solve tough technology challenges. Corning's businesses and markets
are constantly evolving. Today, Corning's products enable diverse
industries such as consumer electronics, telecommunications,
transportation, and life sciences. They include damage-resistant
cover glass for smartphones and tablets; precision glass for
advanced displays; optical fiber, wireless technologies, and
connectivity solutions for high-speed communications networks;
trusted products that accelerate drug discovery and manufacturing;
and emissions-control products for cars, trucks, and off-road
vehicles.
Media Relations
Contacts:
Isolde Karro
(828) 901-6406
karroI@corning.com
M. Elizabeth Dann
(607)
974-4989
dannme@corning.com
Investor Relations
Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com
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responsible for the content, accuracy and originality of the
information contained therein.
Source: Corning Incorporated via Globenewswire
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