Corning Incorporated (NYSE: GLW) announced today that it has signed an agreement with Abengoa (MCE: ABG) to acquire its Brazilian subsidiary, Bargoa S.A., a leading provider of connectivity solutions for the Brazilian telecommunications sector. The terms of the agreement are not being disclosed. Pending regulatory approvals, the acquisition is expected to be completed by the end of the second quarter in 2013.
With its main activities located in Rio de Janeiro, Brazil, Bargoa provides a wide range of connectivity solutions in the rapidly growing Brazilian telecommunications marketplace. Upon closing, Bargoa will be integrated into Corning’s telecommunications business segment.