Acquisition will accelerate the company's growth
MONTREAL, April 1st, 2015 /CNW Telbec/ - iBwave Solutions Inc. announced today that it has been acquired by Corning Incorporated (NYSE: GLW). The terms of the acquisition agreement were not released.
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. Today, Corning's products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences.
Based in Montreal, Canada, iBwave is an industry leader in design software for in-building wireless solutions for a wide range of customers. 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.
Going forward, iBwave will be a wholly-owned subsidiary of Corning, reporting to Corning's Optical Communications business segment. iBwave will operate under its current name, iBwave Solutions, Inc., as a separate entity.
"We are thrilled to become part of the Corning family," said Mario Bouchard, CEO and President, iBwave. "With this new ownership, we are gaining the ability to grow faster and deliver more innovations to our customers."
"We welcome iBwave and its employees to Corning," said Clark S. Kinlin, Executive Vice President, Corning Optical Communications. "We are enthusiastic about the opportunities iBwave provides for wireless growth around the world."
iBwave, the global in-building standard, offers a comprehensive software suite and hands-on certification programs that help deliver optimum wireless network coverage and capacity inside various building environments. The company, which now serves over 600 leading operators, system integrators and equipment vendors worldwide, has developed award-winning technologies to tackle network planning and deployment challenges for both enterprises and public venues. Its portfolio includes mobile applications that enable customers to streamline pre and post installation processes, perform Wi-Fi and Small Cell designs directly on-site, and facilitate information sharing in the iBwave format. For more information, please visit www.ibwave.com
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.
SOURCE iBwave Solutions
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