Samsung sells fibre-optics business to Corning

News Broadband Asia 2 DEC 2014
Samsung sells fibre-optics business to Corning
Corning announced a definitive agreement to acquire the fibre-optics business of Samsung Electronics. The latest in a series of non-core asset sales by Samsung, financial terms of the acquisition were not disclosed. Corning said it expects to close the deal in Q1 2015, pending regulatory approvals. 

Samsung provides fibre and cable equipment to operators in South Korea, China and southeast Asia. Corning will integrate Samsung's activities, with manufacturing facilities in Gumi, South Korea and Hainan, China, into the the Corning Optical Communications business segment.


Categories:

Fixed

Companies:

Samsung,  Corning

Regions:

Asia,  Global

Tags:

Network equipment, Fibre, Wholesale, M&A buyouts & divestments

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