Corning Incorporated to Acquire MobileAccess
31 Janeiro 2011 - 8:23PM
Business Wire
Corning Incorporated (NYSE: GLW) announced today that it has
signed an agreement to acquire MobileAccess, a leading provider of
wireless network solutions. The terms of the agreement are not
being disclosed. Pending regulatory approval, the acquisition is
expected to be completed by the end of the first quarter in
2011.
With headquarters in Vienna, Va. and a technology center in Tel
Aviv, Israel, MobileAccess provides distributed antenna system
(DAS) solutions for flexible wireless coverage in the rapidly
growing wireless market. Upon closing, MobileAccess will be
integrated into Corning Cable Systems, headquartered in Hickory,
N.C., and part of Corning’s telecommunications business
segment.
The acquisition will enable Corning to accelerate a key area of
focus within the company’s telecommunications growth strategy: the
DAS wireless segment. With this acquisition, Corning can expand its
line of innovative telecommunications solutions beyond its
industry-leading Fiber to the Home (FTTH) and Enterprise Optical
solutions. MobileAccess provides a strong portfolio of innovative
DAS solutions and established wireless technical expertise in radio
frequency design, engineering, and software development. These
capabilities complement Corning’s DAS development efforts and will
enable the company to extend its leadership as a connectivity
solutions company.
The telecommunications industry— and the wireless network
segment in particular—, is experiencing significant growth. The
explosive increase in smartphones and other bandwidth-hungry
wireless devices has triggered tremendous demand for greater
wireless network coverage and capacity. Network operators are
responding to their wireless customer needs by investing heavily in
3G and 4G wireless infrastructure, with the DAS segment being a key
area of deployment. Optical solutions like those Corning provides
are rapidly penetrating this space. With this acquisition, Corning
will deliver a portfolio of differentiated DAS solutions and extend
its leadership in this growing market.
“We are very excited about the opportunity to expand Corning’s
presence in the rapidly growing DAS wireless segment,” said Clark
S. Kinlin, president and chief executive officer, Corning Cable
Systems. “MobileAccess has a proven history of delivering
customer-driven innovative solutions with superior customer
service. We look forward to building a bright future in wireless
networks when the talented team from MobileAccess joins us.”
“Working with Corning, a world-leading optical connectivity
company, provides MobileAccess with a great opportunity to extend
our strong position in the growing wireless market. The closely
aligned strategies and values of the two companies should ensure
that our customers will continue to receive industry-leading,
innovative wireless solutions and superior customer service,” said
Ron Kaiser, chief executive officer, MobileAccess.
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 Incorporated (www.corning.com) is the world leader in
specialty glass and ceramics. Drawing on more than 150 years of
materials science and process engineering knowledge, Corning
creates and makes keystone components that enable high-technology
systems for consumer electronics, mobile emissions control,
telecommunications and life sciences. Our products include glass
substrates for LCD televisions, computer monitors and laptops;
ceramic substrates and filters for mobile emission control systems;
optical fiber, cable, hardware & equipment for
telecommunications networks; optical biosensors for drug discovery;
and other advanced optics and specialty glass solutions for a
number of industries including semiconductor, aerospace, defense,
astronomy and metrology.
About MobileAccess
MobileAccess is a global provider of reliable wireless coverage
solutions for all indoor wireless environments. MobileAccess'
solutions platform delivers wireless connectivity in enterprises of
every size, and has become the industry standard in the healthcare,
hospitality and higher education markets. MobileAccess' legacy of
innovation and proven architecture set the bar for indoor wireless
peak performance, ensuring customers can meet current wireless
demands as well as easily expand with future applications and
services. MobileAccess has broad experience deploying its wireless
connectivity solutions across vertical markets and around the
world, including recent deployments in renowned international
facilities. MobileAccess is headquartered in Vienna, Virginia, and
has a technology center in the Middle East. For more information,
please visit: www.mobileaccess.com.
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