Corning Incorporated Purchases MobileAccess
Acquisition extends wireless technology platform within
Corning’s telecommunications segment
CORNING, N.Y., March 02, 2011 – Corning Incorporated (NYSE: GLW) announced today that it has completed the previously announced acquisition of all outstanding shares from the shareholders of MobileAccess.
Headquartered in Vienna, Va., MobileAccess provides distributed antenna system (DAS) solutions for flexible wireless coverage in the rapidly growing wireless market. MobileAccess is being integrated into Corning Cable Systems as Corning MobileAccess, led by Michael D. Genovese, senior vice president, Wireless Networks. Corning Cable Systems, headquartered in Hickory, N.C., is part of Corning’s telecommunications business segment.
Corning has an excellent DAS development program, industry-leading fiber infrastructure solutions, and global commitment to customer experience. When these elements combine with MobileAccess’ existing patented solutions, robust technology roadmap and strong U.S. presence, the result will be highly capable, innovative solutions with continuing customer support.
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.
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.
Media Relations Contact:
Daniel F. Collins
Investor Relations Contact:
Kenneth C. Sofio
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